Analysis by Dr. Nancy Yamaguchi
The U.S. Energy Information Administration (EIA) released its weekly data on diesel and gasoline retail prices for the week ended October 24, 2016. Diesel prices decreased slightly, while gasoline prices fell more markedly. At the national level, diesel prices declined 0.3 cents per gallon, and gasoline prices declined 1.4 cents per gallon.
For the current week ended October 24, diesel prices decreased by 0.3 cents to an average price of $2.478/gallon.
PADD 1 retail diesel prices declined 0.4 cents to $2.468/gallon. In New England, prices rose 0.8 cents to $2.485/gallon. Central Atlantic diesel prices increased 0.2 cents to $2.581/gallon. Lower Atlantic prices shed 1.1 cents to average $2.378/gallon. Overall PADD 1 prices were 3.1 cents per gallon below their prices for the same week last year.
In the Midwest PADD 2 market, retail diesel prices decreased 0.7 cents to $2.451/gallon. This price was 8.9 cents per gallon below its level for the same week in 2015.
In the Gulf Coast PADD 3, retail diesel prices declined 0.4 cents to $2.353/gallon. This price was 5.4 cents higher than in the previous year.
In the Rocky Mountains PADD 4, diesel pump prices rose 0.4 cents to $2.55/gallon. This price was 4.2 cents higher than in the prior year.
In the West Coast PADD 5 market, pump prices rose 0.5 cents to $2.747/gallon. Prices excluding California rose a penny to $2.645/gallon, which was 7.8 cents above the retail price for the same week last year. California diesel prices were unchanged at $2.828/gallon, 1.5 cents higher than last year’s price.
U.S. retail gasoline prices fell 1.4 cents for the week ended October 24th, to $2.243/gallon. This price was 1.5 cents higher compared to the same week in 2015.
In the East Coast PADD 1, prices for gasoline declined 0.5 cents to $2.232/gallon. This price was 10.4 cents higher than last year’s price. Prices rose 0.1 cents in New England to $2.248/gallon. Central Atlantic market prices rose by 1.1 cents to $2.274/gallon. Prices in the Lower Atlantic market subsided 2 cents to bring prices to an average of $2.196/gallon. Last week’s gasoline pump price in the Lower Atlantic market was 12.8 cents higher than it was a year ago.
The Midwest PADD 2 market saw retail gasoline prices drop by 4.8 cents to $2.107/gallon. Gasoline pump prices were 12.1 cents lower than last year’s price.
In the Gulf Coast PADD 3 market, prices rose 1.3 cents to average $2.056/gallon. Prices for the week were 11.1 cents higher compared to the same week in 2015.
In the Rocky Mountains PADD 4 region, prices climbed 1.7 cents to average $2.286/gallon. This price was 1.6 cents lower compared to the same time in 2015.
In the West Coast PADD 5 market, prices edged up 0.1 cents to an average pump price of $2.68/gallon. This was 0.3 cents higher compared to the same time a year ago. Excluding California, prices rose 1.5 cents to an average of $2.476/gallon. California prices fell 0.7 cents to reach an average pump price of $2.798/gallon. Los Angeles prices fell 1.7 cents to 2.845/gallon. San Francisco pump prices were unchanged at $2.815/gallon. Seattle prices increased 0.6 cents to average $2.704/gallon, 24.6 cents higher than prices one year ago.