For third week, fuel prices continue to climb

For third week, fuel prices continue to climb

For the third consecutive week, average retail pump prices in the U.S. for diesel and gasoline have continued to climb, according to data tracked by the Energy Information Administration (EIA).

The national average for diesel rose just over 4 cents to $2.854 per gallon this week, which is still about $1.11 per gallon lower compared to the same week in 2014.

Diesel prices increased in every region of the country, and like last week, the highest gains were seen in the West Coast, West Coast less California and California. In addition, the same four areas continue to see prices above the $3-per-gallon mark:

  • New England at $3.066 per gallon, up nearly 1 cent;

  • The Central Atlantic at $3.133, up just over 2 cents from last week;

  • California at $3.227, up over 7 cents from last week’s $3.156.

  • West Coast at $3.112 per gallon, a nearly 9 cent increase from last week’s $3.026.

The national average for gasoline rose nearly 10 cents to $2.664 per gallon this week, the agency noted. But that is still $1.020 per gallon cheaper compared to the same week last year.

Similar to last week, the most dramatic regional increase for gasoline was just over 23 cents on the West Coast – $3.416 this week compared to last week’s $3.182.

EIA’s Annual Energy Outlook 2015 projects that electricity consumption will increase at an average annual rate of 0.8% from 2013 to 2040, EIA stated. The report also notes that electricity generation from renewable sources provided 13% of U.S. electricity in 2013. EIA reports that percentage is projected to increase to 18% by 2040.

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