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National Average PPG - WEX Index Retail Price Index


WEX Index Retail Price Index

WEX Monthly PPG Average Report for December 2014

City Average
Atlanta, GA $2.53 $3.26
Boston, MA $2.74 $3.43
Chicago, IL $2.62 $3.53
Dallas, TX $2.22 $3.14
Denver, CO $2.49 $3.43
Detroit, MI $2.46 $3.63
Houston, TX $2.33 $3.23
Los Angeles, CA $2.92 $3.39
Memphis, TN $2.32 $3.20
Miami, FL $2.69 $3.38
Minneapolis, MN $2.40 $3.60
New Orleans, LA $2.34 $3.12
New York, NY $3.11 $3.98
Philadelphia, PA $2.75 $3.48
Phoenix, AZ $2.40 $3.24
Portland, OR $2.82 $3.43
San Francisco, CA $3.05 $3.77
Seattle, WA $2.99 $3.50
St. Louis, MO $2.19 $3.13
Washington, DC $2.98 $3.56
National Average (US) $2.54 $3.38

Retail Gasoline Prices Plunge To Lows Not Seen Since 2009

Gasoline prices continue their downward spiral in December.  The national average fallen to $2.18 per gallon, its lowest level since the spring of 2009.  OPEC, and in particular Saudi Arabia’s refusal to cut production, has pushed crude prices to $50 per barrel, nearly half the value from just 6 months ago.

Seven states have average prices less than $2.00 per gallon, but the range in prices has increased dramatically, meaning smart shoppers can save even more.  The difference between the lowest 5% and highest 5% of stations is $1.12 per gallon.  Last year it was just 85 cents.  In fact, 39 states have at least 1 station with a price below $2.00 per gallon.

Experts believe prices will continue to fade through January with the national average forecasted to reach below the $2.00 per gallon mark.  February, however, should see prices increase as refiners start the switch over to the summer spec fuel, a blend required by the EPA.  Historically, the switch over has sent prices jumping.  The good news is that this year the launching pad will be much lower and market-watchers are calling for more tame increases.

Meantime, diesel prices are closing in on $3.00 per gallon nationally.  A mild autumn in the Northeast has kept heating oil and diesel prices at bay and analysts believe diesel will also continue to fall.