Oil again tops $75 a barrel, but gas prices fall in California, nation
Oil surged back above $75 a barrel Tuesday, driven by a weak dollar and the continuing war of words between the U.S. and Iran, but pump prices in California and around the nation still fell over the last week.
In New York futures trading, crude oil for March delivery rose $2.88 a barrel to $77.01.
The average price of a gallon of regular gasoline in California fell 3.5 cents to $2.926, according to the Energy Department’s weekly survey of filling stations. That was 63.5 cents a gallon higher than the price a year earlier.
Nationally, the average price dropped 4.4 cents to $2.608 a gallon, 64.4 cents higher than a year earlier.
The cheapest prices were in the Midwest and Gulf Coast states, which averaged $2.503 and $2.482 a gallon, respectively.
The gasoline averages reflected Monday’s prices but were released Tuesday because of the Presidents Day holiday.
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