Analysis by Dr. Nancy Yamaguchi
The Energy Information Administration (EIA) released its weekly data on diesel and gasoline retail prices for the week ended October 31, 2016. Diesel prices were essentially unchanged, rising a tenth of a cent, while gasoline prices fell. At the national level, diesel prices rose 0.1 cents per gallon, and gasoline prices declined 1.3 cents per gallon.
For the current week ended October 31, diesel prices rose by 0.1 cents to an average price of $2.479/gallon.
PADD 1 retail diesel prices rose 0.7 cents to $2.475/gallon. In New England, prices rose 1.7 cents to $2.502/gallon. Central Atlantic diesel prices increased 0.2 cents, to $2.583/gallon. Lower Atlantic prices rose 1.0 cent to average $2.388/gallon. Overall PADD 1 prices were 1.7 cents/gallon below their prices for the same week last year.
In the Midwest PADD 2 market, retail diesel prices decreased 0.8 cents to $2.443/gallon. This price was 7.3 cents/gallon below its level for the same week in 2015.
In the Gulf Coast PADD 3, retail diesel prices were unchanged at $2.353/gallon. This price was 6.3 cents higher than in the previous year.
In the Rocky Mountains PADD 4, diesel pump prices declined 0.9 cents to $2.541/gallon. This price was 4.4 cents higher than in the prior year.
In the West Coast PADD 5 market, pump prices rose 1.9 cents to $2.766/gallon. Prices excluding California rose a penny to $2.655/gallon, which was 10.6 cents above the retail price for the same week last year. California diesel prices increased 2.7 cents to $2.855/gallon, 3.8 cents higher than last year’s price.
U.S. retail gasoline prices fell 1.3 cents for the week ended October 31, to $2.243/gallon. This price was 0.6 cents higher than for the same week in 2015.
In the East Coast PADD 1, prices for gasoline declined 1.3 cents to $2.219/gallon. This price was 10.5 cents higher than last year’s price. Prices were unchanged in New England at $2.248/gallon. The Central Atlantic market prices declined by 0.3 cents to $2.271/gallon. Prices in the Lower Atlantic market subsided 2.4 cents to bring prices to an average of $2.172/gallon. Last week’s gasoline pump price in the Lower Atlantic market was 11.5 cents higher than it was a year ago.
The Midwest PADD 2 market saw retail gasoline prices drop by 3.2 cents to $2.075/gallon. Gasoline pump prices were 19.3 cents lower than last year’s price.
In the Gulf Coast PADD 3 market, prices fell 1.4 cents to average $2.042/gallon. Prices for the week were 12.6 cents higher than for the same week in 2015.
In the Rocky Mountains PADD 4 region, prices rose 0.7 cents to average $2.293/gallon. This price was 5.3 cents higher than at the same time in 2015.
In the West Coast PADD 5 market, prices rose 1.7 cents to an average pump price of $2.697/gallon. This was 5.1 cents higher than at the same time a year ago. Excluding California, prices edged up 0.2 cents to an average of $2.478/gallon. California prices rose 2.6 cents to reach an average pump price of $2.824/gallon. Los Angeles prices jumped 6.9 cents to 2.914/gallon. San Francisco pump prices fell 1.7 cents to average $2.798/gallon. Seattle prices shed 0.5 cents to average $2.699/gallon, 27.6 cents higher than prices one year ago. Note that the Los Angeles prices reflect the spot market spike experienced on Thursday, caused by short supplies related to refinery maintenance and pipeline issues.