Readers,
The average price for a gallon of unleaded today, Wednesday, stood at $4.20, up 15 cents from a week ago. That not so far off from the all-time record for high prices, which hit locally on June 21, 2008, when the price rose to $4.50.
Diesel locally today is selling at $4.51 on average, according to auto club AAA. Premium was at $4.62.
Following is a discussion that AAA national analyst Avery Ash put out Monday. As you can see, prices are falling in the rest of the nation, except for the West Coast. He said it’s the annual switchover at refineries from winter mix to summer mix, creating less supply:
By Avery Ash, AAA
Declining crude oil prices and renewed economic concerns have
pressured the national average gas price steadily lower since early
April.
The national average price at the pump has now declined for 28 consecutive days and is 21 cents lower than the April 6 peak of $3.94. This streak of declining prices is the longest since 2010, when prices dropped 21 cents from May 7 to June 3. If the current streak is extended tomorrow, it will be the longest streak since 2009, when prices declined 23 cents from June 22 to July 21.
Today’s national average price for a gallon of regular self-serve gasoline is $3.73. This is five cents cheaper than the price one week ago, 17 cents cheaper than one month ago and 24 cents cheaper than one year ago.
A decline in the price at the pump has not been seen west of the Rocky Mountains, where tight gasoline inventories have sent prices higher even as crude oil prices and retail gas prices across the rest country have moved lower. While it is not unusual for gasoline stocks to decline at this time of year, as refineries undergo maintenance and the switchover from winter-blend to summer-blend gasoline takes place, current West Coast stocks, as reported last week by the Department of Energy, are at their lowest level since 1992. While 46 states and the District of Columbia have seen their price at the pump decline since April 14, Alaska (3.4 cents), Washington (7.1 cents), Oregon (8.5 cents), and California (11.6 cents) have seen prices increase.
