Fuel Tracker

Retail gasoline prices have dropped precipitously over the five weeks following the devastation of hurricanes Katrina and Rita. The largest impact of the storms was on the petroleum supply pipelines, many of which shut down due to power outages and crippled supply channels to the East Coast. Retail prices, however, are expected to continue falling as refineries continue to come back on line and domestic gasoline production begins to increase. The U.S. average price for a gallon of gas was $2.38 as of Nov. 7, down 10 cents from Oct. 31. The price of crude oil per barrel was $60.60 as of Nov. 4, down 70 cents from Oct. 28.