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US average retail gasoline prices ended 2017 lower than they started

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US regular retail gasoline prices averaged $2.72 per gallon (gal) in 2018, 30 cents/gal (13%) higher than in 2017 and 57 cents/gal higher than in 2016. In 5 of the 10 cities for which EIA collects weekly retail price data, gasoline prices exceeded $3.00/gal Midwest (Chicago and Cleveland). gal to $2.91/gal

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The Fed Is Driving Down Oil Prices

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The Bloomberg Dollar Spot Index jumped to 1,187 in early trading on Friday, the highest level since July 2017. dollar to go up, which is putting downward pressure on prices,” Phil Flynn, analyst at Price Futures Group in Chicago, told Reuters. dollar is one important variable influencing oil prices.