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US Retail Gasoline Prices Fall 2.3%: Bloomberg

OIL PRODUCTS

US retail gasoline prices fell to $3.297/gal in the week to June 7, down 2.3%, according to the EIA cited by Bloomberg.

  • Prices in the Rocky Mountain region fell the most, down 2.7% to $3.302/gal.
  • East Coast prices saw the smallest fall, down 2.2% to $3.337/gal.
  • Looking at diesel prices across the US, the average was $3.658/gal, down 1.8% on the week.
  • The largest rise fall came in the Midwest, down 2.2% on the week to $3.512/gal.
  • The smallest rise came from the Rocky Mountains, down 1.1% to $3.643/gal.
  • All regions have reached their lowest prices in at least a year.
  • GasBuddy noted that prices have been falling despite the start of summer driving season, amid a ramp up in refinery runs after maintenance season draws to a close.
  • U.S. retail gasoline demand rose 2.7% for the week ending June 8 and modelled at 8.884mb/d, according to GasBuddy.
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