AAA puts the national average price per gallon slightly higher Monday at $3.76, compared to $3.79 a week ago.
Based on GasBuddy data, the national average is now down 3 cents from a month ago, but more than 34 cents higher per gallon than a year ago.
For diesel, we saw national averages drop 2.4 cents last week, now at $5.28 per gallon according to GasBuddy and $5.309 according to AAA.
“For the third week in a row, we’ve seen the national average price of gasoline fall, and while that’s good news for most regions with prices continuing to fall, the Northeast is bucking the trend and seeing a notable jump due to tight supply. said Patrick De Haan, head of oil analysis at GasBuddy.
De Haan noted that the national average is now nearing its previous low since September, after problems at refineries sent prices up in the West and Great Lakes region.
“In dealing with these issues, the West has seen prices plummet, including a drop of nearly 90 cents per gallon in California in less than a month. Compare that to the Northeast, where prices have jumped about 10-25 cents per gallon, showing that there is a lot of regionality in current gas price trends,” he said.
De Haan warned that diesel prices remain high due to extremely tight supply, indicating that “some challenges” remain, even though oil prices were still in a range on Monday after last week’s rally.
Demand data from GasBuddy show that US retail demand for gasoline fell last week by 2.5%.
By Charles Kennedy for Oilprice.com
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