National gasoline prices fell in all regions over the week ending November 2, but all regions were higher than year-over with the exception of the Midwest during the reporting week. Highway diesel prices ticked up on the East Coast but were otherwise down nationwide from the previous week. Diesel still higher year-over in all regions.
Average national retail price for regular gasoline was down $0.076 last week to $3.492/gallon, $0.068 higher than the same period last year. East Coast gasoline was lower $0.056 to $3.533 despite the Superstorm; Midwest gasoline lower to $3.323/gallon, down $0.068; Gulf Coast PADD3 $0.066 lower to $3.271/gallon; Rocky Mountain gasoline softens $0.039 to $3.611.
West Coast gasoline posted the largest declines nationwide falling $0.146 to $3.899, dropping below the $4 mark for the first time in a long time. West Coast gasoline with California figured out $0.102 lower to $3.730.
National average price for highway diesel lower last week by $0.020 to $4.010/gallon, up $0.123 over the same time last year. East Coast diesel $0.002 lower at $4.034 overall, New England and Central Atlantic divisions both adding $0.006.
Midwest diesel $0.025 lower on the week to $3.959/gallon; Rocky Mountain Region $0.035 lower to $4.160/gallon; The West Coast region shed $0.034, lower on the week to $4.153.
Most experts were predicting a spike during the week and we may yet see the Superstorm urge prices higher, but so far, week-to-week declines continue. Because prices are still above year-ago levels, there is room for gasoline and diesel prices to move lower. But the holiday travel season is about to open and increased demand could put pressure on gasoline and highway diesel.