Wal-Mart Rolls Back Gas Prices

Updated from 4:34 a.m. EDT

BENTONVILLE, Arkansas (TheStreet) -- Wal-Mart (WMT) will chop 10 cents a gallon off the price of gas over the next 90 days at Murphy USA and Walmart gas stations.

The discount runs from Wednesday to Sept. 30. Gas purchases must be made with a Walmart gift card, Walmart MoneyCard or Walmart credit card.

"Our customers have told us that high gas prices are a top budget concern, nearly as large an expense to their households as food and groceries," said Stephen Quinn, chief marketing officer, in a statement.

The average price for regular gasoline was $3.55 a gallon on Tuesday, according to the American Automobile Association. Last month it was $3.79. A year ago, the price of gas was $2.76 a gallon, according to the AAA.

Wal-Mart said gas stations in 18 states are taking part in the rollback.

Participating states are Arkansas, Georgia, Idaho, Illinois, Indiana, Iowa, Kentucky, Louisiana, Michigan, Mississippi, Missouri, New Mexico, North Carolina, Ohio, South Carolina, Tennessee, Texas and Virginia, the retailer said.

-- Written by Joseph Woelfel



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