Analysis by Dr. Nancy Yamaguchi
The Energy Information Administration (EIA) released its weekly data on diesel and gasoline retail prices for the week ended July 17, 2017. Crude prices have cycled up and down over the past four weeks, leading to ups and downs in nationwide retail gasoline and diesel prices. For the current week, prices for diesel increased by 1.0 cents per gallon, while gasoline prices dropped by 1.9 cents per gallon.
For the current week ended July 17, diesel prices rose by 1.0 cents to settle at an average price of $2.491/gallon.
PADD 1 retail diesel prices decreased by 0.9 cents to $2.516/gallon. New England prices declined by 0.5 cents to average $2.573/gallon. Central Atlantic diesel prices rose by 0.6 cents to an average of $2.678/gallon. Lower Atlantic prices increased by 1.3 cents to average $2.42/gallon. PADD 1 prices were 12.1 cents/gallon above their prices for the same week last year.
In the Midwest PADD 2 market, retail diesel prices rose by 1.7 cents to average $2.438/gallon. Prices were 6.9 cents/gallon above their level for the same week last year.
In the Gulf Coast PADD 3, retail diesel prices increased by 1.3 cents to $2.324/gallon. This price was 6.2 cents higher than in the previous year.
In the Rocky Mountains PADD 4 market, retail diesel prices rose slightly by 0.3 cents to $2.587/gallon. This price was 15.2 cents higher than in the prior year.
In the West Coast PADD 5 market, retail diesel prices were unchanged at an average of $2.771/gallon. This price was 8.5 cents above its level from last year. Prices excluding California rose by 0.3 cents to $2.656/gallon, which was 8.7 cents above the retail price for the same week last year. California diesel prices fell by 0.2 cents to an average price of $2.865/gallon, 8.5 cents higher than last year’s price.
U.S. retail gasoline prices dropped by 1.9 cents for the week ended July 17, to $2.278/gallon. During the most recent week ended July 17, prices were 4.8 cents higher than for the same week in 2016.
In the East Coast PADD 1, prices for gasoline declined by 0.8 cents to $2.214/gallon. This price was 5.9 cents higher than last year’s price. Prices fell by 1.1 cents in New England to $2.271/gallon. Central Atlantic market prices decreased by 0.5 cents to $2.351/gallon. Prices in the Lower Atlantic market dropped by 0.9 cents, bringing prices to an average of $2.095/gallon. This was 2.3 cents higher than last year’s average price for the same week.
The Midwest PADD 2 market saw retail gasoline prices fall by 4.4 cents to average $2.181/gallon. Gasoline pump prices were 2.9 cents higher than they were one year ago.
In the Gulf Coast PADD 3 market, gasoline prices decreased by 0.4 cents to average $2.028/gallon. Prices for the week were 2.1 cents higher than for the same week in 2016.
In the Rocky Mountains PADD 4 market, gasoline pump prices declined by 1.2 cents to average $2.329/gallon. This price was 5.3 cents higher than at the same time in 2016.
In the West Coast PADD 5 market, retail gasoline prices dropped by 1.2 cents to an average price of $2.807/gallon. This was 8.6 cents higher than at the same time a year ago. Excluding California, prices eased by 0.8 cents to an average of $2.588/gallon. This was 10.2 cents higher than at the same time in 2016. In California, prices dropped by 1.5 cents to an average pump price of $2.934/gallon. California prices were 7.6 cents higher than last year’s price for the same week.
