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Weekly Gasoline Price Update: Down Another 13 Cents

ByDoug Short
Published 12/17/2014, 08:55 AM
Updated 07/09/2023, 06:31 AM

Weekly Gasoline Price Update: Down Another 13 Cents

It's time again for my weekly gasoline update based on data from the Energy Information Administration (EIA). Rounded to the penny Regular dropped 13 cents and Premium 12 cents. Regular is now at its lowest price since October 2009. Will the price decline in gasoline boost discretionary spending during the holiday season? Stay tuned!

According to GasBuddy.com, Hawaii has the highest cost at $3.69. The highest continental average price is in New York at $2.96. Missouri has the cheapest Regular at $2.22.

How far are we from the interim high prices of 2011 and the all-time highs of 2008? Here's a visual answer.

Weekly US Conventional Retail Gasoline Prices Since 2000

The next chart is a weekly chart overlay of West Texas Intermediate Crude, Crude Oil and unleaded gasoline end-of-day spot prices, GASO.

West Texas Intermediate Crude and GASO Weekly Chart Overlay

The volatility in crude oil and gasoline prices has been clearly reflected in recent years in both the Consumer Price Index (CPI) and Personal Consumption Expenditures (PCE). For additional perspective on how energy prices are factored into the CPI, see What Inflation Means to You: Inside the Consumer Price Index.

CPI for Urban Consumers Headline and Core comparison since 2000

The chart below offers a comparison of the broader aggregate category of energy inflation since 2000, based on categories within Consumer Price Index (commentary here).

Comparison of Energy Inflation since 2000 based on CPI Categories

Here are some additional commentaries related to gasoline prices:

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