Retail gasoline and diesel prices have declined in recent weeks, and while that’s good news for consumers, diesel’s more rapid descent offers a warning sign...
Retail gasoline and diesel prices have declined in recent weeks, and while that’s good news for consumers, diesel’s more rapid descent offers a warning sign when it comes to the economic outlook.
These “dynamics combine with a diesel market that is seasonally weak and a gasoline market that is seasonally strong,” he said. The average price for a gallon of regular unleaded gasoline was $3.543 a gallon on Friday, up around 11% from the end of last year but down almost 4% from $3.687 a gallon on April 20, the highest price so far this year, GasBuddy data show.
“We do not see any reason for demand destruction” in gasoline, with unemployment persistently low and real wages holding up, he said. A “rebound or even scarcity pricing” for gasoline seems likely if seasonal average driving demand levels hold in the upcoming months.”
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