Gas Prices Dip Nearly a Nickel to $3.635 per Gallon

Diesel prices head down a couple cents per gallon.

Justin Loiseau
Justin Loiseau
Jul 15, 2014 at 10:28AM
Energy, Materials, and Utilities

Americans are paying less at the gas pump this week, according to an Energy Information Administration report released Monday.

The national average price for regular gasoline clocked in at $3.635 per gallon in the latest report, down $0.043 from a week ago and $0.004 cheaper than prices the same time last year. According to AAA, increasing stability in Iraq (and subsequent lower crude oil prices) was the main reason for this week's cheaper gasoline.AAA predicts the national average "may continue to slide or remain flat, barring any geopolitical concerns, major hurricane or refinery disruptions."

According to the EIA report, Midwesterners enjoyed a steep $0.075 decline in gas prices over the past week, while the Rocky Mountain region was the only area to experience an increase, up a slight $0.002 per gallon.


Diesel prices fell alongside gasoline, with an average $0.019 decrease over the past week to $3.894 per gallon. This latest price tag puts diesel $0.027 per gallon above the same time last year. Midwesterners enjoyed a sizable $0.025 decline in diesel prices over the past week, while Rocky Mountain diesel declined by a relatively lackluster $0.013 per gallon.


At these latest prices, the West Coast pays the prettiest penny for gasoline ($4.001) and diesel ($4.052), while the Gulf Coast can guzzle gas for just $3.440 and diesel for $3.787 per gallon.