Analysis by Dr. Nancy Yamaguchi
The Energy Information Administration (EIA) released its weekly data on diesel and gasoline retail prices for the week ended November 21, 2016. Both gasoline and diesel prices fell, diesel in all PADDs and gasoline in all PADDs save PADD 2. At the national level, diesel prices declined 2.2 cents per gallon, and gasoline prices dropped 2.9 cents per gallon.
For the current week ended November 21, diesel prices decreased by 2.2 cents to an average price of $2.421/gallon.
PADD 1 retail diesel prices declined 1.1 cents to $2.442/gallon. In New England, prices fell 1.1 cents to $2.471/gallon. Central Atlantic diesel prices fell 1.5 cents to $2.549/gallon. Lower Atlantic prices declined 0.8 cents to average $2.355/gallon. Overall PADD 1 prices were 2.7 cents/gallon below their prices for the same week last year.
In the Midwest PADD 2 market, retail diesel prices decreased 3.1cts to $2.356/gallon. This price was 8.5cts/gallon below its level for the same week in 2015.
In the Gulf Coast PADD 3, retail diesel prices declined 2.0 cents to $2.296/gallon. This price was 1.6 cents higher than in the previous year.
In the Rocky Mountains PADD 4, diesel pump prices dropped 3.7 cents to $2.455/gallon. This price was 1.9 cents lower than in the prior year.
In the West Coast PADD 5 market, pump prices declined 2.7 cents to $2.73/gallon. Prices, excluding California, fell 2.0 cents to $2.637/gallon, which was 8.2 cents above the retail price for the same week last year. California diesel prices shed 3.3 cents to $2.804/gallon, 7.1 cents higher than last year’s price.
U.S. retail gasoline prices fell 2.9 cents for the week ended November 21, to $2.155/gallon. This price was 6.1 cents higher than for the same week in 2015.
In the East Coast PADD 1, prices for gasoline dropped 4.5 cents to $2.172/gallon. This price was 6.5 cents higher than last year’s price. Prices fell 2.8 cents in New England to $2.197/gallon. Central Atlantic market prices declined by 3.0 cents to $2.291/gallon. Prices in the Lower Atlantic market dropped 6.3 cents to bring prices to an average of $2.075/gallon. Last week’s gasoline pump price in the Lower Atlantic market was 3.9 cents higher than it was a year ago.
The Midwest PADD 2 market was the only PADD where gasoline prices rose for the week ended November 21. Prices rose by 2.0 cents to $2.014/gallon. Gasoline pump prices were 7.9 cents higher than last year’s price.
In the Gulf Coast PADD 3 market, prices dropped 5.7 cents to average $1.918/gallon. Prices for the week were 6.4 cents higher than for the same week in 2015.
In the Rocky Mountains PADD 4 region, prices declined 5.0 cents to average $2.185/gallon. This price was 9.3 cents higher than at the same time in 2015.
In the West Coast PADD 5 market, prices fell 5.4 cents to an average pump price of $2.645/gallon. This was 1.2 cents higher compared to the same time a year ago. Excluding California, prices fell 3.4 cents to an average of $2.422/gallon. California prices dropped 6.5 cents to reach an average pump price of $2.690/gallon. Los Angeles prices fell 8.2 cents to 2.757/gallon. San Francisco pump prices declined 1.5 cents to average $2.704/gallon, 4.4 cents lower than last year’s price. Seattle prices fell 4.8 cents to average $2.613/gallon, 12.9 cents higher than prices one year ago.