Gas Price Report For May 14, 2018

Gas price trend for week of May 14, 2018

Fort Lauderdale, FL – After a single week of relief from never-ending gas price increases, the cost of fuels shot up nationwide during the past week, according to the latest gas price survey from the U.S. Energy Information Administration. The average cost of one gallon of gas in the U.S. is now just over $2.87.

That price represents a seven cent increase over last week, but there is a catch. That increase is depended on a new statistical methodology the E.I.A. announced it would begin testing this week. The new methodology includes a refinement in how the agency calculates average prices by zip-code, what geographic areas qualify as cities, and an update to the sample of stations surveyed, the agency reported on its website. The updated sampling methodology does not apply to diesel pricing surveys.

By the new statistical model, weekly gas prices increased well over seven cents, on a nationwide basis, last week. Some regions, particularly the Midwest and Rocky Mountain states, were hit with ten-cent and eight-cent price hikes, respectively.

Truckers were also greeted this week with a substantial hike in diesel prices. The E.I.A. reports the average cost of diesel went up nearly seven cents per gallon, bringing the average price to just shy of $3.24.

This week’s average fuel prices for all regions are shown below, as gathered from www.eia.gov.

Note: There are two regular gas price tables this week in order to detail the price trends with the new a E.I.A. statistical calculus, versus the old methodology. The E.I.A. announced it implemented the new methodologies with the May 14, 2018 gas price survey. That new survey method is shown first, followed by a table using the old method.

The statistical models used for calculating diesel price averages has not been changed.

E.I.A. Gas Price Survey (New Stat. Method)

04/30/18 05/07/18 05/14/18 week ago year ago
U.S. 2.797 2.801 2.873 values are up 0.072 values are up 0.504
East Coast (PADD1) 2.769 2.761 2.820 values are up 0.059 values are up 0.500
  New England (PADD1A) 2.816 2.834 2.874 values are up 0.040 values are up 0.507
  Central Atlantic (PADD1B) 2.908 2.898 2.944 values are up 0.046 values are up 0.507
  Lower Atlantic (PADD1C) 2.671 2.656 2.726 values are up 0.070 values are up 0.508
Midwest (PADD2) 2.697 2.683 2.782 values are up 0.099 values are up 0.514
Gulf Coast (PADD3) 2.589 2.555 2.613 values are up 0.058 values are up 0.484
Rocky Mountain (PADD4) 2.829 2.838 2.922 values are up 0.084 values are up 0.538
West Coast (PADD5) 3.302 3.347 3.405 values are up 0.058 values are up 0.533
  West Coast less California 3.082 3.129 3.166 values are up 0.037 values are up 0.523

E.I.A. Gas Price Survey (Old Stat. Method)

04/30/18 05/07/18 05/14/18 week ago year ago
U.S. 2.846 2.845 2.873 values are not available NA values are up 0.504
East Coast (PADD1) 2.789 2.792 2.820 values are not available NA values are up 0.500
  New England (PADD1A) 2.812 2.836 2.874 values are not available NA values are up 0.507
  Central Atlantic (PADD1B) 2.910 2.917 2.944 values are not available NA values are up 0.507
  Lower Atlantic (PADD1C) 2.692 2.685 2.726 values are not available NA values are up 0.508
Midwest (PADD2) 2.724 2.697 2.782 values are not available NA values are up 0.514
Gulf Coast (PADD3) 2.589 2.589 2.613 values are not available NA values are up 0.484
Rocky Mountain (PADD4) 2.803 2.821 2.922 values are not available NA values are up 0.538
West Coast (PADD5) 3.432 3.464 3.405 values are not available NA values are up 0.533
  West Coast less California 3.128 3.173 3.166 values are not available NA values are up 0.523

E.I.A. Diesel Price Survey (No Change In Stat. Method)

04/30/18 05/07/18 05/14/18 week ago year ago
U.S. 3.157 3.171 3.239 values are up 0.068 values are up 0.695
East Coast (PADD1) 3.162 3.178 3.236 values are up 0.058 values are up 0.641
  New England (PADD1A) 3.203 3.215 3.251 values are up 0.036 values are up 0.625
  Central Atlantic (PADD1B) 3.321 3.336 3.380 values are up 0.044 values are up 0.643
  Lower Atlantic (PADD1C) 3.042 3.061 3.132 values are up 0.071 values are up 0.644
Midwest (PADD2) 3.083 3.092 3.175 values are up 0.083 values are up 0.696
Gulf Coast (PADD3) 2.946 2.955 3.012 values are up 0.057 values are up 0.630
Rocky Mountain (PADD4) 3.215 3.249 3.316 values are up 0.067 values are up 0.690
West Coast (PADD5) 3.640 3.662 3.731 values are up 0.069 values are up 0.907
  West Coast less California 3.394 3.409 3.482 values are up 0.073 values are up 0.754
  California 3.834 3.863 3.929 values are up 0.066 values are up 1.027

*PADD stands for Petroleum Administration for Defense Districts. Charts from the U.S. Energy Information Administration. https://www.eia.gov/petroleum/gasdiesel/

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About Danny Pryor

Danny Pryor is a media, content and web developer with a long history in broadcast and print journalism. He is also the executive director of Turnpike Information Company. Danny has earned two awards from the Associated Press for his work in media, including Best Individual Achievement for Large Market Radio in Miami. He resides in Fort Lauderdale, Florida.