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Gas Price Report For February 20*, 2017

Editor’s note: The EIA weekly price survey was delayed due to the Presidents’ Day Holiday, which was February 20. The report was released February 21, 2017.

Gas Price trend for week of February 20, 2017

Fort Lauderdale, FL – The price of gasoline took a little turn for the better this week, at least for most drivers. The U.S. Energy Information Administration’s weekly price survey shows the nation’s average price for a gallon of unleaded gas fell about a half-penny per gallon, settling at $2.30. Prices fell in most regions, except along the West Coast and in the Rocky Mountains. East Coast prices were up fractionally, led by a rise in costs along the Lower Atlantic states.

The cost of diesel increased this week, bucking the regular gasoline trend, according to the E.I.A. However, the average cost of diesel went up less than a penny per gallon, and the national price average remains at $2.57.

Regional cost averages for both gasoline and diesel are listed below, ranked from highest to lowest price.

Regional Gasoline Averages:

$2.750: PADD 5 WEST COAST (INCL. CA)
$2.496: PADD 5 WEST COAST (W/O CA)
$2.420: PADD 1b CENTRAL ATLANTIC
$2.294: PADD 1 EAST COAST
$2.288: PADD 1a NEW ENGLAND
$2.252: PADD 4 ROCKY MOUNTAIN
$2.201: PADD 1c LOWER ATLANTIC
$2.190: PADD 2 MIDWEST
$2.069: PADD 3 GULF COAST

Regional Diesel Averages:

$2.876: PADD 5 WEST COAST
$2.770: PADD 1b CENTRAL ATLANTIC
$2.658: PADD 1a NEW ENGLAND
$2.628: PADD 1 EAST COAST
$2.548: PADD 4 ROCKY MOUNTAIN
$2.521: PADD 1c LOWER ATLANTIC
$2.495: PADD 2 MIDWEST
$2.433: PADD 3 GULF COAST

Note: PADD is an acronym for Petroleum Administration for Defense Districts.

Gas Price Report For February 13, 2017

Gas price trend for week of February 13, 2017

Fort Lauderdale, FL – The cost of filling your gas tank may have gone up this week, as the nation’s average fuel costs reversed course and pumped upward almost one-and-a-half cents, on average, according to the U.S. Energy Information Administration. The average cost of a gallon of unleaded gas is now $2.31.

The surge in prices was largely due to dramatic price increases across the Midwest and West Coast regions, both which inflated the national average. Prices increased only slightly or went down in every other region, dropping noticeably in both Atlantic regions.

The cost of diesel increased this week, but only just, according to the E.I.A. The average cost of diesel went up about a penny per gallon and is now $2.57.

Regional cost averages for both gasoline and diesel are listed below, ranked from highest to lowest price.

Regional Gasoline Averages:

$2.732: PADD 5 WEST COAST (INCL. CA)
$2.487: PADD 5 WEST COAST (W/O CA)
$2.424: PADD 1b CENTRAL ATLANTIC
$2.296: PADD 1a NEW ENGLAND
$2.293: PADD 1 EAST COAST
$2.230: PADD 4 ROCKY MOUNTAIN
$2.213: PADD 2 MIDWEST
$2.195: PADD 1c LOWER ATLANTIC
$2.080: PADD 3 GULF COAST

Regional Diesel Averages:

$2.869: PADD 5 WEST COAST
$2.765: PADD 1b CENTRAL ATLANTIC
$2.668: PADD 1a NEW ENGLAND
$2.626: PADD 1 EAST COAST
$2.522: PADD 4 ROCKY MOUNTAIN
$2.519: PADD 1c LOWER ATLANTIC
$2.487: PADD 2 MIDWEST
$2.424: PADD 3 GULF COAST

Note: PADD is an acronym for Petroleum Administration for Defense Districts.

Gas Price Report For Monday, February 6, 2017

Gas price trend for week of February 6, 2017

Fort Lauderdale, FL – The nation’s average gas price dropped for a fourth consecutive week, according to the U.S. Energy Information Administration. The E.I.A.’s weekly gas price survey shows the average price of the nation’s gasoline fell from $2.30 to $2.29, although the actual price decline was only three-tenths of a penny. However, drivers in the Midwest and Central Atlantic regions enjoyed as much as a penny off last week’s fuel costs, according to the report.

The cost of diesel dropped again this week, as well, according to the E.I.A. The average cost of diesel is now $2.56 per gallon.

Regional cost averages for both gasoline and diesel are listed below, ranked from highest to lowest price.

Regional Gasoline Averages:

$2.700: PADD 5 WEST COAST (INCL. CA)
$2.483 PADD 5 WEST COAST (W/O CA)
$2.432: PADD 1b CENTRAL ATLANTIC
$2.301: PADD 1 EAST COAST
$2.294: PADD 1a NEW ENGLAND
$2.233: PADD 4 ROCKY MOUNTAIN
$2.206: PADD 1c LOWER ATLANTIC
$2.181: PADD 2 MIDWEST
$2.071: PADD 3 GULF COAST

Regional Diesel Averages:

$2.856: PADD 5 WEST COAST
$2.763: PADD 1b CENTRAL ATLANTIC
$2.661: PADD 1a NEW ENGLAND
$2.618: PADD 1 EAST COAST
$2.515: PADD 4 ROCKY MOUNTAIN
$2.508: PADD 1c LOWER ATLANTIC
$2.492: PADD 2 MIDWEST
$2.403: PADD 3 GULF COAST

Note: PADD is an acronym for Petroleum Administration for Defense Districts.

Gas Price Report For January 9, 2017

Gas price trend for week of January 9, 2017

Fort Lauderdale, FL – The price of gas continued, this week, what has become a weekly ritual of increases. However, according to the U.S. Energy Information Administration, this week’s price rise was much lower than recent weeks. That gave drivers something of a break from the break-neck pace of price hikes, but only just. The E.I.A.’s weekly price survey shows the national average cost of a gallon of regular unleaded gas went up just over a penny per gallon to settle at about $2.39. Still, that is likely some relief from the 7-cent hike drivers felt last week.

The cost of diesel went up the same price as its petroleum counterpart, according to the E.I.A. As with regular gas, diesel prices went up just over a penny per gallon. The national average now stands at about $2.60 per gallon.

Regional cost averages for both gasoline and diesel are listed below, ranked from highest to lowest price.

Regional Gasoline Averages:

$2.680: PADD 5 WEST COAST (INCL. CA)
$2.515: PADD 1b CENTRAL ATLANTIC
$2.465 PADD 5 WEST COAST (W/O CA)
$2.395: PADD 1 EAST COAST
$2.378: PADD 1a NEW ENGLAND
$2.344: PADD 2 MIDWEST
$2.310: PADD 1c LOWER ATLANTIC
$2.259: PADD 4 ROCKY MOUNTAIN
$2.168: PADD 3 GULF COAST

Regional Diesel Averages:

$2.873: PADD 5 WEST COAST
$2.813: PADD 1b CENTRAL ATLANTIC
$2.677: PADD 1a NEW ENGLAND
$2.648: PADD 1 EAST COAST
$2.547: PADD 2 MIDWEST
$2.541: PADD 4 ROCKY MOUNTAIN
$2.526: PADD 1c LOWER ATLANTIC
$2.448: PADD 3 GULF COAST

Note: PADD is an acronym for Petroleum Administration for Defense Districts.

Gas Price Update For March 7, 2016

Gas price trend for week of March 7, 2016Fort Lauderdale, FL – The upward swing in gas prices extended into a second week this week, according to the latest report from the U.S. Energy Information Administration. The E.I.A. weekly data show the average price of a gallon of gas is now $1.84, with prices rising in all regions.

The price of diesel also went up three cents, according to the report. The average price of diesel has gone back above the two-dollar threshold to settle at $2.02.

Regional cost averages for both gasoline and diesel are listed below, ranked from highest to lowest price.

Regional Gasoline Averages:

$2.244: PADD 5 WEST COAST (INCL. CA)
$1.904: PADD 5 WEST COAST (W/O CA)
$1.819: PADD 1b CENTRAL ATLANTIC
$1.815: PADD 2 MIDWEST
$1.784: PADD 4 ROCKY MOUNTAIN
$1.779: PADD 1 EAST COAST
$1.778: PADD 1a NEW ENGLAND
$1.749: PADD 1c LOWER ATLANTIC
$1.603: PADD 3 GULF COAST

Regional Diesel Averages:

$2.219: PADD 5 WEST COAST
$2.188: PADD 1b CENTRAL ATLANTIC
$2.147: PADD 1a NEW ENGLAND
$2.077: PADD 1 EAST COAST
$1.983: PADD 2 MIDWEST
$1.979: PADD 1c LOWER ATLANTIC
$1.927: PADD 4 ROCKY MOUNTAIN
$1.907: PADD 3 GULF COAST

Note: PADD is an acronym for Petroleum Administration for Defense Districts.

Gas Prices Rise And Fall Based On Regional Influences

2015-04-13-trendOhio Gas Prices Spike, Holding U.S. Average In Check

The national average price of gas barely moved during the past week, according to the latest weekly report from the U.S. Energy Information Administration. The E.I.A. report shows U.S. gas prices remained unchanged at $2.41 per gallon, but region by region, the numbers tell a different story. For instance, drivers in California are paying about 5¢ less for gas this week, but drivers in Ohio are paying 11¢ more. Midwestern gas prices are typically the most volatile and can often influence the national average, as was the case during the past week.

Meanwhile, prices were mixed across the country, with prices across New England dropping by about a penny. However, prices across the Central Atlantic and Lower Atlantic states rose slightly, putting the broader East Coast prices slightly higher. For drivers in the Rocky Mountains, prices went up about three cents per gallon.

Truckers Get A Break With Diesel Prices Down

Meanwhile, the price of diesel dropped in every region last week, a good sign for truckers. The average price for a gallon of diesel fuel dropped an even 3¢ during the past week to $2.75 per gallon. Prices were down between two and four cents per gallon in every region except the West Coast, where a one-penny per gallon increase in California prevented the regional average from moving significantly. The West Coast averages, sans the Golden State, were down two cents per gallon.

Crude Oil Prices Are Up, But So Is Crude Supply

Pipeline Crossroads Monument

Crude oil supplies in Cushing, Oklahoma are high, the result of crude production in the U.S. Photo: Ben Cochran via Wikipedia.org.

Meanwhile, crude oil prices have been climbing slowly but steadily for the past month, for both domestic and overseas crude. The price of West Texas Intermediate was set to open early Tuesday at just over $52 per barrel after climbing about a half-dollar in overnight trading. Brent Crude was poised to open at just over $58 per barrel. That could signal a potential rise in fuel prices in the short term, but the longer-term forecast is that prices will continue to drop through the year.

The E.I.A. reported last week the price of Brent crude is likely to fall as much as 40 percent this year, and U.S. crude oil stocks at Cushing, Oklahoma, are enough to supply the country for the next 30 days, keeping downward pressure on retail prices.

DOWNLOAD THE WEEKLY GAS PRICE SURVEY

Gas Prices Slip Downward After Weeks Of Increases

Domestic And Overseas Crude Oil Destabilized

2015-03-16-trendThe price of gas did an about-face in most regions of the country during the past week, according to the latest weekly gas price survey from the U.S. Energy Information Administration. The E.I.A. report shows the average U.S. cost for a gallon of regular unleaded fell to $3.45 per gallon. While the national average price fell 3.4¢, the declines in some regions were barely felt, while other survey districts enjoyed larger price drops.

Regional Gas Price Shifts Vary Widely

Midwestern gas prices, usually quite volatile, had among the larger price declines during the past week, with prices slipped won just over a nickel per gallon. Those price drops were outpaced only by the West Coast region, which was hit hard just two weeks ago by substantial double-digit price increases. West Coast gasoline declined nearly 7¢ per gallon last week, but the bigger declines were confined to California and its large metropolitan areas. Remove the Golden State from the averages, and West Coast gas only went down about 4¢ per gallon.

Meanwhile, the drivers across the Rockies are paying much more for gas this week than last, according to the E.I.A., which reports the price of unleaded went up by about 6¢ per gallon in the Rocky Mountain survey region, the only region to experience a price increase. Prices across that area settled at about $2.29 per gallon, but that is well below the national average.

Black diesel pump nozzleGas Price Trends Extend To Trucking Industry

The Rocky Mountain region price increases affected truckers and haulers, too. The cost of diesel increased by about a penny per gallon across the survey district last week, while the broader national average price of diesel was down nearly 3¢ last week. For truckers driving across New England, the price of diesel fell just over 6¢, giving that region the biggest price decline of the week. For those regions experiencing an actual drop in diesel prices, the Lower Atlantic states had the lowest overall price decline, at just over a penny per gallon.

Crude Oil Prices Once Again In Focus

The about-face in gas prices came as crude oil began destabilizing once more at the end of last week. Prices had been lurking in a range from the high $40 per barrel to low $50 per barrel range for domestic crude, West Texas Intermediate. Brent crude, the overseas benchmark, had been trading in the high $50 per barrel to low $60 per barrel range. As of Tuesday morning, however, both futures indices had fallen substantially, with WTI now trading in the low $40 per barrel range and Brent in the low $50 per barrel range.

Broader Issues Than Supply And Demand At Play

The decline in prices can be traced to a pair of primary factors. The first is the glut of domestic crude being produced by the United States, which has been a significant factor in the pricing equation for months. The other issue is the strength of the U.S. dollar, which has been gaining ground in recent weeks due to the anticipated end of bond buying by the U.S. Federal Reserve Bank. Meanwhile, the Eurozone economies are about to experience their own brand of quantitative easing, which has resulted in a weaker Euro. Combined, the actions of the Fed and the European Central Bank have many investors fleeing to U.S. dollars, which makes U.S. oil more expensive overseas.

DOWNLOAD THE WEEKLY GAS PRICE SURVEY

Gas Prices Skirt Upward, Decline In Midwest

National Average Moves Higher By Two Cents

Gas price trend for week of March 9, 2015The national average price of a gallon of gas went up another two cents during the past week, as detailed in the latest pricing survey released by the U.S. Energy Information Administration. The E.I.A. report shows the average gas price in the U.S. is now $2.49 per gallon, which is 45¢ higher than just five weeks ago. However, the price is still down well over $1.00 from this period a year ago.

The price of gas surged across the West Coast last week, and while price increases were not as substantial this week, they dragged the national averages higher. The Rocky Mountain states also experienced a surge in pricing, as the region gave up its tenuous slot as the cheapest region for gas.

Gas prices in Round Rock, Texas, near Austin. prices have jumped nearly 30¢ in the past month.

Gas prices in Round Rock, Texas, near Austin, adjacent to the TX-45 toll road. Prices there have jumped nearly 30¢ in the past month. Photo: Eric Scallion.

The Gulf Coast states, typically the place to find the least-expensive gas, reclaimed their slot as the cheapest place in the nation to buy fuel. Prices across the West Coast went up 5¢ per gallon, but when California is removed from the equation, the price increases were closer to 11¢ per gallon. That trend also held in the Rocky Mountains, where prices jumped 11¢ week on week.

In the Midwestern states, where prices are typically volatile, the price of gas actually went down, the only region to show a pricing retreat in the past week. The cost of fuel dipped by 4¢ to settle at $2.34 per gallon, which is also well below the national average.

Diesel Fuel Costs Rise, But Slowly Compared To Unleaded

The price of diesel fuel continues to creep upward, and it is only creeping, indeed. The price of a gallon of diesel, nationwide, is now averaging about $2.94, up about one penny on the week. Diesel prices have been rising slowly, compared with their unleaded fuel counterparts, but that also follows a much slower decline in prices, too. Retail diesel costs did not decline as quickly as unleaded gasoline during the last six months of 2014.

Crude Oil, Summer Gas And Strong Dollar Influencing Prices

The price of crude oil continues to influence retail gas prices, but the wholesale gasoline prices are also playing a substantial role. Despite a glut of oil domestically and around the world, U.S. prices are rising, in part, because of a switch to summer fuel blends, which are more expensive to produce. Gas prices typically increase in the first few months of the year, ahead of the summer driving season.

The stronger U.S. dollar is also creating problems, because it makes U.S. oil more expensive on the open markets, driving global prices higher, and that can reverberate on the U.S. retail gasoline market. The timing of that influence, however, remains to be seen.

DOWNLOAD THE WEEKLY GAS PRICE SURVEY

Gas Prices Rise, But Pace Of Increase Slowing

Third Consecutive Week Of Price Hikes May Only Be Beginning

Gas price trend for week of February 23, 2015The price of gas increased another six cents on the week, according to the latest report from the U.S. Energy Information Administration. The weekly survey of districts shows the average price of a gallon of regular unleaded is now $2.33, up 19¢ in the past three weeks. The weekly price increases were led by shocking hikes across California and the broader West Coast Region, where prices jumped 14¢ and 9¢, respectively. Price increases across the rest of the nation were either at or below the national average increase of 6¢ per gallon.

Diesel Increasing In Price The Same Way It Declined: Slowly

For truckers, the price of diesel also increased, but not as intensely. The nationwide average cost for a gallon of diesel is now $2.90, up about 4¢ on the week. The price of diesel came down sooner than its regular gasoline counterpart in 2014, but it did so at a slower rate than gas. As unleaded fuels have increased in price, the diesel price increases have also been moving at a slower pace, which means somewhat less volatility, at least at the retail level.

Crude Volatility And Summer Blends Influencing Gas Prices

The price changes are reflective of continued uncertainty in the crude oil futures markets, which have found a broad trading range during February. A supply glut is forecast to persist through at least the second, and most likely the third quarter, according to industry analysts, which was a significant part of the precipitous declines seen since July. Both Citigroup’s Edward Morse and Vitol Group’s Ian Taylor opined two weeks ago that crude oil prices were still likely to trend lower until later this year. They disagreed on the timing of a future upward move in crude, but the consensus was that the oversupply causing the downward price pressure would continue until well into the summer.

Tri-State Tollway view from the Hinsdale Oasis

This summer view of the Tri-State Tollway, near Chicago, may seem like a distant memory now, but refinery operators are already switching to output summer gasoline blends, contributing to higher prices.

The other factor is the summer fuel blends, themselves, which reflects increased refining costs for producers. That element is likely the greatest issue for consumer prices at the moment, as this is the time refineries are switching over to summer blends for the coming driving seasons.

The summer fuel blend issue aside, supply is expected to remain quite plentiful, which could put an upward limit on the current price increases. Vincent Piazza of Bloomberg Business reported February 18 shale production continues to increase, even in the current environment. The reason is the efficiency of drilling sites versus their older counterparts, many of which have been closed down in the past year.

Year On Year Prices Still Much Lower

For consumers, the price of gas is still far cheaper today than it was at this time last year. On average, most drivers are paying about $1.11 less for a gallon of gas than at this time in 2014. For truckers, the nationwide average price is down by about the same amount, at $1.12.

DOWNLOAD THE WEEKLY GAS PRICE SURVEY

Gas Prices Surge Second Consecutive Week

After Months Of Decline, Prices Rebound Amid More Stable Crude Prices

Gas price trend for week of February 16, 2015The price of gas took another leap higher during the past week, according to the latest report from the U.S. Energy Information Administration. The weekly E.I.A. report shows the cost of gas jumped eight  cents last week, and that followed a week in which prices jumped 12 cents per gallon. In all, however, the price of gas is still significantly lower that it was at this time last year. As it stands, the national average price for a gallon of regular unleaded is $2.27, which is 23¢ higher than where gas settled at the end of January.

West Coast drivers suffered the biggest price increase, by region, during the week. The E.I.A. survey shows consumer fuel costs jumped 15¢ per gallon, by far the highest increase nationwide. The runner up, the Gulf Coast states, had a price increase of nine cents per gallon.

Prices along the Gulf Coast have been rising faster than other regions. Photo: Eric Scallion.

Prices along the Gulf Coast have been rising faster than other regions. Photo: Eric Scallion.

The numbers by state are equally dramatic. In California, which lead the West Coast price surge, the coast of a gallon of gas soared over 17¢. In Florida, where early spring break travelers will soon be arriving for vacation, the cost of filling up rose 12¢ per gallon.

Truckers Hit With Less Costly Price Increase

Diesel prices are also rising, but not as severely. The average cost of a gallon of diesel, nationwide, settled at $2.87 this week, which is up three cents over last week. However, like regular unleaded, diesel prices went up considerably more along the West Coast, particularly California, where prices were up eight cents per gallon.

Crude Oil Prices More Stable, At Least For The Moment

The current price rebound in gas and diesel can be attributed, at least in part, to the leveling of crude oil prices, which had been in a free-fall for several months. However, both West Texas Intermediate and Brent Crude have stabilized. WTI, a domestic futures benchmark, has been trading in a range between $48 and $54 per barrel for the past two weeks. Brent has been trading in a wider range, but traders have been bidding Brent higher, unlike WTI. What is more, Brent closed above $60 per barrel for two consecutive sessions this week before sliding just under that key threshold in Wednesday trading.

Year On Year Gas Prices Still Considerably Lower

Meanwhile, as much as gas prices have done an about face in recent weeks, the year-on-year numbers are still staggering in their consumer favoritism. The average driver is currently paying about $1.10 less for a gallon of gas than last year at this time, and some regions are enjoying prices that are about $1.25 less than a year ago, including New England and the Rocky Mountain region.

DOWNLOAD THE WEEKLY GAS PRICE SURVEY