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Pump Prices Drop $0.03 From Last Week

Retail gasoline prices have decreased $0.015 per gallon over the past 12 months, while diesel has dropped $0.074.

By Justin Loiseau – Dec 16, 2013 at 5:41PM EST

Pump prices are down from last week, according to an Energy Information Administration report (link opens a PDF) released today.

Retail regular gasoline prices clocked in at a national average of $3.239 per gallon for Dec. 16, $0.03 below last week's price tag. Gulf Coast prices dropped the most ($0.057), while West Coast prices barely budged, down half a penny.

Compared with a year ago, pump prices are down $0.015. 

Source: EIA.gov. 

For the same period, average retail diesel prices dipped $0.008 for a national average of $3.871 per gallon. On a regional basis, Midwest prices made the deepest $0.018 dip, while East Coast prices added on $0.003 to per gallon prices.

Over the past year, diesel prices have decreased $0.074. 

Source: EIA.gov 

At these latest prices, the West Coast pays the prettiest penny for both gasoline ($3.472) and diesel ($3.982). On the other end, the Gulf Coast can guzzle gas for just $3.047 and diesel for $3.766 per gallon.

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About the Author

Justin hails from the great united state of North Carolina, where he started his first business at the ripe age of five: melting crayons into candles. With the infamous Crayola Crash of 1994, Justin moved on to study economics and environmental studies at University of North Carolina as a Morehead-Cain Scholar and completed a Master's in Economics at the University of Auckland as a Rotary Ambassadorial Scholar. He has worked in a variety of sectors across the globe, from management consulting to the United Nations, and is a 2012 graduate of the Foolish Freelance Writers Academy. In his spare time, you can find him working with NGOs, foundations, governments, and others to cultivate research partnerships and ensure that program and policy decision-making is informed by scientific evidence. Follow @TMFJLo

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