Richardson sees US gasoline price fall

US Energy Sec. Bill Richardson said Monday that US gasoline prices have dropped for the sixth week in a row. According to the US Department of Energy, the nationwide average for regular gasoline dropped 21�/gal to $1.46/gal last week.

Aug 1st, 2000


Washington, DC�US Energy Sec. Bill Richardson said Monday that US gasoline prices have dropped for the sixth week in a row.

According to the US Department of Energy, the nationwide average for regular gasoline dropped 21�/gal to $1.46/gal last week.

Richardson said, �We were confident that prices would slowly come down through the summer months, and they are on track with our projections.�

The secretary said, when Congress resumes work in September, it should act on legislation to improve US energy security, such as tax incentives for domestic production and promotion of alternative energy supplies and energy efficiency.

He said Congress also should reauthorize the Energy Policy Conservation Act (EPCA) and pass legislation to establish a trigger mechanism for use of a 2 million bbl regional home heating oil reserve that the administration is establishing.

EPCA, which expired in March, gives the government authority to use the Strategic Petroleum Reserve.

More in Reserves