The U.S. Energy Information Administration (EIA) released its weekly data on diesel and gasoline retail prices for the week ended October 1, 2018. On a national average basis, gasoline prices rose by 2.2 cents/gallon, while diesel prices rose by 4.2 cents/gallon.

West Texas Intermediate (WTI) crude futures prices rose by $1.07/b during the week ended September 28. Gasoline and diesel futures prices rose even more strongly. Retail prices during the week ended October 1st rose more modestly, but the increase in futures market prices should be expected to filter through to the retail level this week. As of the time of this writing, WTI futures crude prices are above $75/b, at levels not seen since November 2014.

For the current week ended October 1st, diesel prices jumped by 4.2 cents to reach an average price of $3.313/gallon. Prices increased in all PADDs. The national average price was 52.1 cents per gallon higher than it was one year ago.

In the East Coast PADD 1, diesel prices rose by 3.8 cents to arrive at an average price of $3.292/gallon. Within PADD 1, New England prices rose by 3.5 cents to average $3.305/gallon. Central Atlantic diesel prices rose by 3.1 cents to average $3.447/gallon. Lower Atlantic prices increased by 4.4 cents to arrive at an average price of $3.180/gallon. PADD 1 prices were 47.3 cents/gallon above their prices for the same week last year.

In the Midwest PADD 2 market, retail diesel prices jumped by 6.0 cents to average $3.278/gallon. This was the largest price increase among the five PADDs. Prices were 53.1 cents/gallon above their level for the same week last year.

In the Gulf Coast PADD 3, retail diesel prices rose by 2.7 cents to average $3.079/gallon. Prices were 46.4 cents higher than for the same week in the previous year.

In the Rocky Mountains PADD 4 market, retail diesel prices increased by 1.2 cents to average $3.367/gallon. PADD 4 prices were 50.7 cents higher than in the prior year.

In the West Coast PADD 5 market, retail diesel prices rose by 4.3 cents to average $3.802/gallon. This price was 69.3 cents above its level from last year. Prices excluding California went up by 3.3 cents to reach an average of $3.506/gallon. This price was 48.8 cents above the retail price for the same week last year. California diesel prices rose by 5.2 cents to arrive at an average price of $4.038/gallon. During the week of June 4, California prices had topped the $4/gallon mark, but crude prices waned, and product prices followed. However, diesel prices have crept up for the last six consecutive weeks now, and $4/gallon diesel is once again California’s reality. California diesel prices were 85.6 cents above last year’s price.

U.S. retail gasoline prices rose by 2.2 cents to average $2.866/gallon during the week ended October 1. Prices rose in all PADDs except for the Rocky Mountains PADD 4. The national average price was 30.1 cents per gallon higher than it was one year ago.

For the current week ended October 1, East Coast PADD 1 retail prices for gasoline increased by 2.2 cents to average $2.794/gallon. The average price was 20.2 cents higher than last year’s price. Within PADD 1, New England prices edged up by 0.1 cents to average $2.857/gallon. Central Atlantic market prices decreased slightly by 0.1 cents to average $2.906/gallon. Prices in the Lower Atlantic market, however, rose by 4.3 cents to average $2.707/gallon. This price increase can be attributed mainly to Hurricane Florence.

In the Midwest PADD 2 market, retail gasoline prices edged up slightly by 0.1 cents to arrive at an average price of $2.790/gallon. Gasoline pump prices were 38.8 cents higher than they were one year ago.

In the Gulf Coast PADD 3 market, gasoline prices rose by 3.4 cents to average $2.593/gallon. PADD 3 continues to have the lowest average prices among the PADDs. Prices for the week were 21.2 cents higher than for the same week in 2017.

In the Rocky Mountains PADD 4 market, gasoline pump prices fell by 1.4 cents to arrive at an average of $3.00/gallon. This was the only price decrease among the PADDs. Three weeks ago, PADD 4 joined PADD 5 in having gasoline prices of over $3/gallon. Prices were 43.3 cents higher than at the same time in 2017.

In the West Coast PADD 5 market, retail gasoline prices jumped by 6.2 cents to arrive at an average of $3.412/gallon. This was 43.7 cents higher than at the same time a year ago. This was the largest price increase among the PADDs. PADD 5 continues to have the highest gasoline prices among the five PADDs. Excluding California, West Coast prices increased by 1.8 cents to average $3.149/gallon. This was 40.8 cents higher than at the same time in 2017. In California, pump prices rose significantly by 9.7 cents to average $3.624/gallon. California prices were 51.3 cents per gallon above their levels from last year.