U.S. fuel prices stay in high gear

U.S. fuel prices stay in high gear

Diesel and gasoline prices across the U.S. continued to increase this week, according to data tracked by the Energy Information Administration (EIA), though they remain far lower compared to the same period in 2014.

The EIA said the average U.S. retail pump price for diesel jumped 2.4 cents this week to $2.878 per gallon, though that is $1.070 per gallon cheaper compared to the same week in 2014.

Diesel prices increased in every region of the country, breaking the $3 per gallon mark in five areas:

  • California, up 2.3 cents to $3.25 per gallon;
  • The Central Atlantic, up 1.8 cents to $3.151;
  • The West Coast including California, up 2.7 cents to $3.139;
  • New England, up 2.5 cents to $3.091;
  • The West Coast without California, up 3.1 to $3.002.

The biggest one-week hike in diesel prices occurred in the Midwest, EIA said, where diesel spiked 3.3 cents per gallon to reach $2.748 per gallon.

Average U.S. retail pump prices for gasoline climbed 2.7 cents this week to $2.691 per gallon, the agency noted, though that is 97.7 cents cheaper compared to the same week last year.

Gasoline prices increased in every region of the U.S., with the West Coast including California the only one above the $3-per-gallon mark at $3.444 per gallon, up 2.8 cents from last week.

Without including California’s prices, though, the average retail pump price for gasoline on the West Coast spiked 3.9 cents to $2.948 per gallon.

The regions with the largest one-week jumps in gasoline prices are the Rocky Mountains – up 6.7 cents to $2.634 per gallon – and the Gulf Coast, up 5.2 cents to $2.436 per gallon, EIA reported.

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