The national retail pump prices for both diesel and gasoline declined overall this week, though they experienced slight fluctuations on a regional basis in the U.S., according to data tracked by the Energy Information Administration (EIA).
Diesel dropped 2/10ths of a penny this week to $2.407 per gallon, the agency noted, which is 12.7 cents per gallon cheaper compared to the same week in 2015.
On a regional basis, though, diesel prices experienced a slight uptick along parts of the East Coast and on the West Coast:
- The Central Atlantic: up 3/10ths of a penny to $2.499 per gallon.
- California: up 5/10ths of a penny to $2.746.
- West Coast: up 6/10ths of a penny to $2.669. That shifts to an 8/10ths of a penny increase to $2.563 with California’s prices removed.
Gasoline witnessed broader, if smaller, price fluctuations on a regional level this week, EIA said, even though the national average retail pump price for gasoline dipped 1.4 cents to $2.223 per gallon – down 21.4 cents per gallon from the same week last year:
- The East Coast: up 1/10th of a penny to $2.173 per gallon.
- New England: up 1/10th of a penny $2.202.
- The Central Atlantic: up 5/10ths of a penny to $2.225.
- The Rocky Mountains: up 4/10ths of a penny to $2.267.
- The West Coast: up 2/10ths of a penny to $2.594. Removing California’s prices, gasoline jumped up a full penny per gallon on the West Coast to $2.401.
That being said, the U.S. average retail pump price for regular gasoline of $2.24 back on Aug. 29 marked the lowest “Labor Day” week price for gasoline in 12 years, EIA pointed out.
Lower crude oil prices are the main factor behind falling U.S. gasoline prices, the agency stressed, with lower crude oil prices reflecting sustained high global crude oil and petroleum product inventories as well as increased drilling activity in the U.S.
However, the U.S. average retail pump price for gasoline has increased 51 cents per gallon since it reached a “low point” of $1.72 per gallon in mid-February – a rise partially attributed to the “strong demand” during the summer driving season, EIA said.