A federal survey of retail gasoline prices in the United States in 2016 found consumers paid the lowest average price at the pump last year in 12 years. The U.S. Energy Information Administration said the average retail price for a gallon of regular unleaded gasoline in the country last year was $2.14, 12 percent lower than the previous year and the lowest annual average price since 2004. Crude oil prices moved from above $100 per barrel in 2014 to below $30 per barrel in early 2016 and EIA said that was the main contributor to lower gasoline prices last year. “In nine of the 10 cities for which EIA collects weekly retail price data, gasoline prices did not exceed $3.00 per gallon,” the report read. The West Coast is the most expensive market in the country in part because of higher state and local […]