Gasoline and Ethanol Price Update (07142016)
For the fourth month in a row since March 2016, monthly average wholesale gasoline prices rose (see Figure 1), reflecting increasing crude oil prices this year after a price decline that began in July 2015 (see Figure 2). The average wholesale gasoline price in June ($1.82/gallon) was up 78% from the low wholesale average price recorded during February 2016 ($1.02/gallon). The wholesale gasoline price in June 2016 increased $0.08/gallon relative to the previous month ($1.74/gallon). Despite increasing monthly wholesale prices of gasoline from March to June, on average, prices during the first six months 2016 have been below last year. The wholesale gasoline price averaged $1.46/gallon this year (January to June) compared with $1.90/gallon during the same period last year.
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