The U.S. average retail price of regular gasoline fell for the seventh time in eight weeks, shedding a penny to reach $3.45 per gallon. The average price is $0.65 per gallon higher than last year at this time. Leading the move down, the Gulf Coast tallied a four cent drop from last week's average. The Rocky Mountain price fell almost three cents on the week, while the East Coast price was more than two cents lower. The average on the West Coast was down less than two cents this week. Moving in the other direction, the average gasoline price in the Midwest increased more than two cents. At $3.78 per gallon, the average gasoline price is highest on the West Coast and is lowest on the Gulf Coast at $3.26 per gallon.
The national average diesel price jumped almost seven cents to $3.89 per gallon, $0.83 per gallon higher than a year ago. The U.S. diesel fuel price rose 17.1 cents per gallon in the last three weeks as distillate fuel inventories decreased by 15.8 million barrels since the week ending September 23, adding to the upward pressure on diesel prices. Averages were up across all the regions, with the biggest increase in the Midwest, where diesel prices added more than eight cents to last week's average. Gulf Coast and West Coast diesel prices both increased about six cents on the week, while the Rocky Mountains and East Coast both had gains of about a nickel.