US retail price for gasoline has broken the5-month record, having exceeded the point of 3.87 USD/gallon. According to last week’s results, the average cost of Regular gasoline has amounted to 3.878 USD/gallon, including taxes. The latest price record was set on September 16.
US gasoline keeps rising for 11 weeks. This started after summing up the results on July 2 when gasoline prices dropped to the 6-month low of 3.356 USD/gallon. After this quotations started rising. Prices have considerably risen since last year: as of September 17, 2012 prices have increased by 27.7 cents in comparison to last year.
Before this, prices were the highest on April 2, 2012 when prices used to reach 3.941 USD/gallon. However, the record price for gasoline has not been broken yet: on July 7, 2008 the price used to amount to 4.114 USD/gallon.
On average gasoline price in the USA has risen by 3.1 percent. The average price in New York is 3.990 USD/gallon, in Chicago – 4.231 USD/gallon. The cost of 1 gallon of gasoline in Los Angeles amounts to 4.167 USD, in Houston – 3.635 USD, in San Francisco – 4.165 USD.
The future currently stands at the parting. On the one hand, the level of support 2.86 may be broken for wave (с) to acquire a five-wave structure. On the other hand, if correction is over, the level of resistance 2.97 may be broken within third wave up. In general, this day may become decisive in terms of defining mid-term perspectives.
