The U.S. Vitality Info Administration’s (EIA) newest gasoline and diesel gas replace, which was launched earlier this week, confirmed a reducing worth development in each gasoline and diesel.
That replace put the U.S. common gasoline worth at $3.289 per gallon on September 2, $3.236 per gallon on September 9, and $3.180 per gallon on September 16. It put the U.S. on-highway diesel gas worth at $3.625 per gallon on September 2, $3.555 per gallon on September 9, and $3.526 per gallon on September 16.
Of the 5 Petroleum Administration for Protection District (PADD) areas highlighted within the EIA’s newest gas replace, the West Coast was proven to have the very best common gasoline worth as of September 16, at $4.136 per gallon. The Gulf Coast was proven to have the bottom common gasoline worth as of September 16, at $2.728 per gallon.
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The West Coast was proven within the replace to have the very best on-highway diesel worth as of September 16, at $4.244 per gallon. The Gulf Coast was proven to have the bottom diesel worth as of September 16, at $3.172 per gallon.
A glossary part of the EIA web site notes that the 50 U.S. states and the District of Columbia are divided into 5 districts, with PADD 1 additional break up into three subdistricts. PADDs 6 and seven embody U.S. territories, the positioning provides.
Present, Future Costs
Based on the AAA Gasoline Costs web site, the typical worth of standard gasoline within the U.S. is $3.224 per gallon, as of September 19. Yesterday’s common was $3.215 per gallon, the week in the past common was $3.242 per gallon, the month in the past common was $3.411 per gallon, and the yr in the past common was $3.880 per gallon, the positioning confirmed.
The typical diesel worth within the U.S. is $3.596 per gallon, as of September 19, in accordance with the positioning. Yesterday’s common was additionally $3.596 per gallon, the week in the past common was $3.637 per gallon, the month in the past common was $3.733 per gallon, and the yr in the past common was $4.582 per gallon, the positioning highlighted.
The very best recorded common worth for normal gasoline was seen on June 14, 2022, at $5.016 per gallon, and the very best recorded common worth for diesel was seen on June 19, 2022, at $5.816 per gallon, the AAA Gasoline Costs web site outlined.
In its newest brief time period power outlook, which was launched final week, the EIA projected that the common gasoline worth will common $3.33 per gallon in 2024 and $3.29 per gallon in 2025. The September STEO forecast that the on-highway diesel worth will common $3.78 per gallon this yr and $3.73 per gallon subsequent yr.
In its earlier August STEO, the EIA projected that the common gasoline worth would common $3.38 per gallon in 2024 and $3.33 per gallon in 2025 and that the on-highway diesel worth would common $3.84 per gallon this yr and $3.87 per gallon subsequent yr.
Value Breakdown
Based on the EIA’s newest gas replace, which pegged the retail worth of standard gasoline at $3.48 per gallon in July 2024, 56 % of that complete went in direction of crude oil prices, 16 % went in direction of distribution and advertising and marketing prices, 15 % went in direction of taxes, and 13 % went in direction of refining prices.
The gas replace pinned the diesel worth at $3.81 per gallon in July and confirmed that 51 % of that complete went in direction of crude oil prices, 21 % went in direction of distribution and advertising and marketing prices, 16 % went in direction of taxes, and 13 % went in direction of refining prices.
A earlier EIA gas replace launched in June, which pegged the retail worth of standard gasoline at $3.61 per gallon in April 2024, confirmed that 55 % of that complete went in direction of crude oil prices, 19 % went in direction of refining prices, 14 % went in direction of taxes, and 12 % went in direction of distribution and advertising and marketing prices.
Based on that replace, which pinned the diesel worth at $4.00 per gallon throughout April 2024, 50 % of that complete went in direction of crude oil prices, 19 % went in direction of distribution and advertising and marketing prices, 17 % went in direction of refining prices, and 15 % went in direction of taxes.
To contact the writer, e mail andreas.exarheas@rigzone.com
