Wednesday, October 5, 2022
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Fuel Prices Decline Again

The nation’s average gas price declined for the thirteenth consecutive week, down 7.6 cents from a week ago to $3.67 per gallon. The national average is down 26.9 cents from a month ago but 52.3 cents higher than a year ago. The national average diesel price declined 5.5 cents last week and stands at $5.01 per gallon. However, Gas Buddy’s Patrick De Haan says, “we’re seeing drastically different price behaviors from coast to coast, with some areas seeing noticeable increases while others are seeing decreases.” Refinery issues in California are leading to increases in areas supplied by the state’s refineries, including Arizona, Nevada, Oregon, Washington and California. Gasoline supply remains tight for the East Coast with some modest moves up, while prices continue to edge lower in the Plains, South and areas of the Great Lakes. Last week saw an 8.8-million-barrel rise in U.S. oil inventories, while U.S. gasoline demand fell 5.4 percent last week.

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