Retail Gasoline & Diesel Prices Decrease

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The U.S. average retail price for a gallon of gasoline dropped for the first time in three weeks, decreasing about one and a half cents from last week to $2.88 per gallon, $0.24 per gallon higher than last year at this time. The decline was sharpest in the Midwest, where prices were a nickel lower than last week. Gulf Coast gasoline prices fell three cents from the week before, followed by the Rocky Mountains where prices were down over a cent. Prices on the West Coast were flat, remaining at $3.11 per gallon, the highest in the country. In a week where prices were generally lower, the East Coast saw prices jump almost two cents versus last week.

The average retail diesel price was down more than a penny versus last week, with the national average for a gallon of diesel now at $3.17 per gallon, $0.38 higher than last year at this time. This was largest decrease in the national average in 12 weeks. Prices fell across all of the major regions, led by the East Coast where prices fell one and a half cents from last week. The Gulf Coast, Rocky Mountains, and West Coast all saw declines equal to the national average decrease, while the Midwest was also about a penny lower than last week. Prices on the West Coast remained the highest in the country at $3.32 per gallon.

Source: EIA



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