Gasoline, Diesel Prices Fall
WASHINGTON, D.C. --- The U.S. average retail price for regular gasoline for January 1 decreased 0.7 cent to $2.334 per gallon, according to the Energy Department's weekly report from its Energy Information Administration (EIA).
Nonetheless, prices are still 9.6 cents per gallon higher than at this time last year. East Coast prices fell 0.7 cent to $2.345 per gallon. In the Midwest, prices decreased 1.0 cent to $2.263 per gallon. Gulf Coast prices dipped 1.3 cents to $2.20 per gallon, while Rocky Mountain prices fell 0.3 cent to $2.246 per gallon. The only region to see an increase was the West Coast, where prices went up 0.2 cent to $2.581 per gallon. Prices there have now risen for eight consecutive weeks, the EIA said.
Retail diesel fuel prices were also lower this week, falling 1.6 cents to $2.58 per gallon. Diesel prices are 13.8 cents higher than at this time last year. All regions saw a decrease in price, the EIA reported. The East Coast's average diesel price fell 2.2 cents to $2.565 per gallon, while the Midwest price dropped 1.6 cents to $2.534 per gallon. The Gulf Coast saw a decrease of 1.4 cents to $2.50 per gallon. Rocky Mountain diesel prices fell 1.6 cents to $2.697 per gallon, and prices on the West Coast decreased 0.3 cent to $2.853 per gallon.