CHICAGO (March 10, 2015) - Over the last 40 days the national average price of gas has increased by more than 40 cents per gal., while the California average has spiked by a dollar.
Especially during times when there's price volatility, it's critical for consumers to know just how much of a 'spread' exists in the markets where they live, work and fill up every week. On any given day, is the difference between the highest and lowest price at the pump in New York, Chicago, Los Angeles or Atlanta 20 cents per gallon? 40 cents? 80 cents?
"Knowing the answer to that question represents hundreds of dollars in savings for savvy consumers," says Patrick DeHaan, senior petroleum analyst for GasBuddy. "And, by consistently purchasing from retailers pricing at the lowest range for your metro area, that exerts additional pressure on others to be more competitive."
GasBuddy's analysis of retail pricing for 2014 identifies 50 metro markets; 10 in each of our nation's five regions based on the Petroleum Administration for Defense Districts or PADD Regions. These markets represent the 10 highest spreads in retail gasoline pricing on a daily basis in each region.
"What do Washington, D.C., Chicago, Houston, Grand Junction, Colorado and Bakersfield, California all have in common? They have the highest spreads for their respective regions," said Gregg Laskoski, another senior petroleum analyst with GasBuddy. "Bakersfield (85.5 cents per gal.) and Washington DC (82.9 cpg) have the two highest spreads in the country but, no matter where you live, the clear message is: 'Buyer Beware'."
California markets dominated the West Coast rankings which recorded the greatest spreads nationwide. With just two non-California markets making the top 10, the spreads there ranged from Bakersfield (85.5 cpg) to San Rafael, CA (64.5 cpg).
Top 10 East Coast rankings range from Washington DC's 82.9 to Long Island's 51.9.
Midwest markets with the greatest spreads range from Chicago (69 cpg) to Iowa City ranking 10th (43.6 cpg).
Rocky Mountain markets were led by Grand Junction, CO (46.7 cpg) with Provo-Orem, UT ranking 10th at 25.1 cpg.
Gulf Coast markets had the narrowest range among its Top 10 spreads. Houston recorded its 2014 spread at 46.8 cpg while the 10th ranking metro, Shreveport, LA, came in at 36.7 cpg.
For the complete listing of U.S. markets with the greatest price spreads in each region, click here.