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 24, 2017. At the national level, prices for both fuels rose. Retail diesel prices rose by 1.6 cents per gallon, while gasoline prices increased by 3.4 cents per gallon. Diesel prices rose in all PADDs, while gasoline prices rose in all PADDs save PADD 5, the West Coast, where prices remained flat.
For the current week ended July 24, diesel prices rose by 1.6 cents to settle at an average price of $2.507/gallon.
PADD 1 retail diesel prices increased by 1.4 cents to $2.546/gallon. New England prices edged up by 0.1 cents to average $2.574/gallon. Central Atlantic diesel prices rose by 0.7 cents, to an average of $2.685/gallon. Lower Atlantic prices increased by 2.1 cents to average $2.441/gallon. PADD 1 prices were 15.9 cents/gallon above their prices for the same week last year.
In the Midwest PADD 2 market, retail diesel prices rose by 1.4 cents to average $2.452/gallon. Prices were 11.1 cents/gallon above their level for the same week last year.
In the Gulf Coast PADD 3, retail diesel prices increased by 1.8 cents to $2.342/gallon. This price was 10.0 cents higher than in the previous year.
In the Rocky Mountains PADD 4 market, retail diesel prices rose by 1.1 cents to $2.598/gallon. This price was 16.4 cents higher than in the prior year.
In the West Coast PADD 5 market, retail diesel prices rose by 1.7 cents to $2.788/gallon. This price was 12.5 cents above its level from last year. Prices excluding California rose by 2.2 cents to $2.678/gallon, which was 14.2 cents above the retail price for the same week last year. California diesel prices increased by 1.2 cents to an average price of $2.877/gallon, 11.3 cents higher than last year’s price.
U.S. retail gasoline prices rose by 3.4 cents for the week ended July 24, to an average price of $2.312/gallon. During the most recent week ended July 24, prices were 13.0 cents higher than for the same week in 2016.
In the East Coast PADD 1, prices for gasoline jumped by 5.0 cents to $2.264/gallon. This price was 14.4 cents higher than last year’s price. Prices rose by 4.5 cents in New England to $2.316/gallon. Central Atlantic market prices rose by 4.0 cents to $2.391/gallon. Prices in the Lower Atlantic market rose by the largest increment, rising by 5.9 cents, to an average price of $2.154/gallon. This was 12.1 cents higher than last year’s average price for the same week.
The Midwest PADD 2 market saw retail gasoline prices increase by 3.2 cents to average $2.213/gallon. Gasoline pump prices were 13.5 cents higher than they were one year ago.
In the Gulf Coast PADD 3 market, gasoline prices decreased by 4.0 cents to average $2.068/gallon. Prices for the week were 8.8 cents higher than for the same week in 2016.
In the Rocky Mountains PADD 4 market, gasoline pump prices increased by 1.2 cents to average $2.341/gallon. This price was 7.7 cents higher than at the same time in 2016.
In the West Coast PADD 5 market, retail gasoline prices remained unchanged at an average price of $2.807/gallon. This was 13.7 cents higher than at the same time a year ago. Excluding California, prices dropped by 1.2 cents to an average of $2.576/gallon. This was 11.7 cents higher than at the same time in 2016. In California, prices rose by 0.7 cents to an average pump price of $2.971/gallon. California prices were 14.9 cents higher than last year’s price for the same week.
