U.S. gasoline prices increasing in 2017

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U.S. unchanging sell gasoline prices averaged $2.41 per gallon (gal) in 2017, 27 cents/gal (13%) aloft than in 2016, though dual cents/gal reduction than in 2015. Higher crude oil prices in 2017 contributed to aloft gasoline prices. In 3 of a 10 cities for that EIA collects weekly sell cost data, gasoline prices exceeded $3.00/gal during slightest once in 2017, and prices in each city solely Houston exceeded $2.50/gal during some indicate in a year. On Aug 25, a landfall of Hurricane Harvey resulted in refinery and infrastructure outages in a Gulf Coast, that led to increasing gasoline prices, quite along a East Coast and Gulf Coast.

Illustration by U.S. Energy Information Administration.

Each Monday, EIA collects and publishes information on sell gasoline and diesel fuel prices for 10 cities, 9 states, 5 regions, and a United States as a whole. Gasoline prices opposite a nation simulate differences in gasoline specifications, taxes, and supply and direct balances in informal markets.

East Coast (Boston, New York, and Miami). In Boston and New York, unchanging sell gasoline prices were lowest in March, while prices in Miami were lowest in July. Florida’s expenditure of transport fuels is towering by a tourism industry, that creates high anniversary consumption for highway and airline transport from out-of-state visitors. In all 3 cities, unchanging sell gasoline prices reached annual highs in Sep after Hurricane Harvey done landfall. Average prices for a whole East Coast segment changed within a operation of $2.20/gal to $2.73/gal over a year.

Midwest (Chicago and Cleveland). The Midwest covers a vast geographic area consisting of many semi-connected markets. Retail gasoline prices in a Midwest were lowest in July, and they appearance in Nov as a outcome of higher wanton oil prices, parsimonious inventories, and clever demand. Repair work to refineries that was behind as a outcome of Hurricane Harvey and a prejudiced shutdown of a Explorer tube singular a gasoline supply in a segment and contributed to a cost boost in November. Prices in Chicago were somewhat aloft than prices in Cleveland and a Midwest informal normal in each week during 2017. Of a cities for that EIA collects data, Cleveland’s gasoline prices were a lowest in a nation for 3 weeks in 2017 and a second lowest in a nation for 32 weeks.

Gulf Coast (Houston). Gulf Coast sell gasoline prices tend to be a lowest in a country. The segment is home to half of U.S. enlightening ability and produces almost some-more gasoline than it consumes. In addition, gasoline taxes in a segment are among a lowest in a country. Retail gasoline prices in Houston were a lowest of a 10 cities for that EIA collects information for 49 weeks in 2017. After Hurricane Harvey done landfall, gasoline prices in Houston rose, attack an annual high of $2.43/gal in September. Gasoline prices in Houston were lowest a week of Jul 10 during $1.95/gal.

Rocky Mountains (Denver). Denver sell gasoline prices were a second lowest of a 10 cities surveyed for 17 weeks of 2017. Regional gasoline inventories were aloft than a five-year normal and pushed down prices for a initial half of a year. However, inventories fell in a second half of a year and are now next their five-year averages, contributing to aloft gasoline prices compared with a same time final year.

West Coast (Los Angeles, San Francisco, and Seattle). Gasoline prices on the West Coast tend to be aloft than in other tools of a nation since of strict fuel specifications in California, a region’s relations siege from other markets, and aloft state and internal taxes. On Nov 1, California lifted taxes on gasoline by 12 cents/gal, that resulted in aloft 2017 gasoline prices compared with prices in 2016. Of a 10 cities for that EIA collects data, sell prices in San Francisco were a top for all though 13 weeks of 2017. San Francisco prices appearance in Nov during $3.28/gal.

Source: EIA

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