PADD 4 Retail Gasoline Prices Soar Past U.S. Average


   
Karim Bastati
DTN Analyst

   VIENNA (DTN) -- This Memorial Day weekend, one of the busiest travel 
weekends of the year marking the beginning of the main summer driving season, 
Americans will pay the highest retail gasoline prices since 2022, the U.S. 
Energy Information Administration's latest Gasoline and Diesel Fuel Update 
revealed earlier this week.

   A gallon of regular grade gasoline at the pump averaged $4.49, up 42% 
year-on-year. The de facto closure of the Strait of Hormuz, the largest oil 
supply disruption in history, has sent prices soaring over the past 
two-and-a-half months and lifted retail fuel prices close to levels last seen 
in the wake of Russia's invasion of Ukraine in 2022.

   Recent refinery outages have added to price pressure in some areas of the 
country. While overall retail gasoline prices edged lower by 1ct gallon last 
week, prices in the Rocky Mountain region bucked the nationwide trend, rising 
21.5ct gallon. Planned and unplanned maintenance have over the past few weeks 
temporarily curbed supply in the Midwest and the Rockies, where a power outage 
led to the unplanned shutdown of Suncor's Commerce City refinery in Colorado. 
Retail gasoline prices in PADD 4 consequently shot 9.7ct gallon past the 
national average to $4.587 gallon, up 47% year-on-year.




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