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The average price of regular gasoline in the U.S. is higher than it was a year ago, according to data from the AAA Gas Prices website.
As of April 5, the average price of regular gasoline in the United States was $3.582 per gallon, according to the site. According to the site, yesterday’s average was $3.567 per gallon, one week ago the average was $3.537 per gallon, one month ago the average was $3.366 per gallon, and one year ago the average was $3.528 per gallon. It was a dollar.
The average record high for regular unleaded was $5.016 per gallon on June 14, 2022, according to the site’s overview.
GasBuddy’s real-time average price for regular gasoline in the U.S., which can be found on the organization’s website, was $3.603 per gallon as of April 5 at 7:35 a.m. ET. The organization noted on its site that this is 0.5 cents higher than yesterday’s average. It was 5.7 cents higher than last week’s average, 20.4 cents higher than last month’s average, and 6.9 cents higher than last year’s average.
According to the latest fuel update from the U.S. Energy Information Administration (EIA) released earlier this week, U.S. regular gasoline prices rose from $3.453 per gallon on March 18 to $3.453 per gallon on March 25. $3.523 per gallon, and $3.517 per gallon on April 1st. According to the latest information, the price on April 1st was $0.020 higher than his price a year ago.
Of the five PADD regions covered in the fuel update, regular gasoline prices were highest on the West Coast as of April 1, at $4.556 per gallon. As of April 1, regular gasoline prices were lowest on the Gulf Coast, at $3.116 per gallon.
The Glossary section of the EIA site states that the 50 United States and the District of Columbia are divided into five districts, and PADD 1 is further divided into three subdistricts. PADD 6 and 7 include U.S. territory, the site added.
Gasoline price prediction/breakdown
In its March Short-Term Energy Outlook (STEO), EIA estimates U.S. retail gasoline prices will average $3.23 per gallon in the first quarter of 2024, $3.60 per gallon in the second quarter, and $3.68 per gallon in the third quarter. dollar, expected to be $3.39 per gallon. $3.48 per gallon in the fourth quarter and $3.48 per gallon in 2024 overall.
EIA estimates retail gasoline prices will average $3.34 per gallon in the first quarter of 2025, $3.56 per gallon in the second quarter, $3.59 per gallon in the third quarter, and $3.28 per gallon in the fourth quarter. , we expect it to be $3.45 per gallon for all of 2025. This was revealed by STEO in March.
In the previous STEO, released in February, EIA predicted that the average retail gasoline price would be $3.13 per gallon in the first quarter of 2024, $3.40 per gallon in the second quarter, and $3.50 per gallon in the third quarter of 2024. , had expected it to be $3.21 per gallon. The fourth quarter will be $3.18 per gallon, the first quarter of 2025 will be $3.41 per gallon, the third quarter will be $3.46 per gallon, and the fourth quarter of next year will be $3.18 per gallon.
In its STEO, EIA projects that overall retail gasoline prices in 2024 and 2025 will average $3.31 per gallon.
In its latest fuel update, the EIA pegged regular gasoline prices at $3.21 per gallon in February, with 57% of that total going to crude oil costs, 16% to taxes, 14% to refining costs and 13% to spending. It revealed that. The funds were used to cover distribution and marketing costs.
The previous fuel update, released on March 18th, pegged the retail price of regular gasoline in January at $3.08 per gallon, with 57% of that total coming from crude oil costs, 17% from taxes, and 16% from taxes. It was shown that % was allocated to distribution and marketing. 11% went towards refining costs.
To contact the author, please send an email andreas.exarheas@rigzone.com
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