The Car and Truck Fleet and Leasing Management Magazine

Gasoline Prices Stay Steady

October 31, 2016

Photo courtesy of Wikimedia.
Photo courtesy of Wikimedia.

The national average price of a gallon of unleaded remained mostly flat for the week ending Oct. 31, staying in the $2.21 range, reports AAA.

The average price declined one cent, which was at the same level from a month a go and three cents more than the same time a year ago. The usual seasonal decline has stalled as prices have remained roughly the same since early September, AAA reported.

Refinery maintenance continues to cause regional price fluctuations. West Coast gasoline continues to be the priciest as the region counts seven of the most expensive states, including Hawaii ($2.91), California ($2.73) and Washington ($2.73). Prices in the Northwest moved higher following the shutdown of BP's Olympic Pipeline last week. Prices should decline as winter-blend gasoline makes its way to pumps.

Late last week, OPEC officials met in Vienna about a potential production freeze agreement. Iran and Iraq have been reluctant to participate in a production cut.

Federal fuel data mirrored AAA's data, as the price of regular unleaded retreated 1.3 cents to $2.23 per gallon, which was six-tenths of a cent higher than a year ago. Meanwhile the average price of diesel increased one-tenths of a cent to $2.479. Diesel is six-tenths of a cent higher that a year ago, according to data from the U.S. Energy Information Administration.

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