The retail gasoline national average starts the month of June at $3.62, a few pennies above where it was last year and 8 cents per gallon above the start of last month. However, looking at the national average these days is like looking at the national average temperature, reports fuel-card provider Wright Express (WEX). Regional extremes are as wide and diverse as they have ever been.
Last month Great Plains stations skyrocketed on refinery issues, and this month is starting with a bang in the Great Lakes area thanks to continued issues at ExxonMobil’s Joliet refinery, WEX reports. Prices above $4 per gallon can be seen at many stations in Michigan, Ohio and parts of Illinois and Indiana. In contrast, there are many areas, such as the Southeast, where drivers could find prices close to $3 per gallon.
The good news for drivers in the Great Lakes is that analysts anticipate the crisis to subside relatively soon as supplies get back to normal. Overall, experts predict that prices will decline as a whole over the next month. They point to very soft demand and strong supplies in most areas. However, experts caution that regional and localized spikes will continue to be an issue.
Meanwhile, diesel prices have been holding steady at around $3.85 per gallon. Market watchers don’t expect much movement in diesel either up or down over the next 30 days, as supplies remain consistent and demand holds steady.
|Monthly PPG Average Report for May|