Gasoline Prices Rise Sharply
WASHINGTON, D.C. --- Gasoline prices rose sharply for the week of Feb. 26, increasing 8.7 cents to an average of $2.383 per gallon. The Energy Department's Energy Information Administration (EIA) reported last week that prices were 12.9 cents per gallon higher than at the same time last year. All regions in the country reported price increases. East Coast prices were up 9.3 cents to $2.337 per gallon. Midwest prices rose 8.5 cents to $2.370 per gallon. The Gulf Coast had the largest regional price increase, with prices up 10.3 cents to $2.234 per gallon. Rocky Mountain prices increased 6.3 cents to $2.249 per gallon, while prices for the West Coast were up 6.8 cents to $2.664 per gallon. California prices jumped 8.6 cents to $2.796 per gallon, 35.7 cents per gallon above last year's average price.Retail diesel prices were also up significantly, jumping 6.0 cents to $2.551 per gallon. The price was 8.0 cents per gallon higher than at the same time last year, the EIA said. All regions reported price increases. East Coast diesel prices rose 4.7 cents to $2.526 per gallon. Midwest diesel prices were up 7.9 cents to $2.523 per gallon, while the Gulf Coast also saw an increase of 7.9 cents to reach $2.497 per gallon. Rocky Mountain diesel prices were up 5.1 cents to $2.568 per gallon. Diesel prices on the West Coast saw an increase of 0.6 cent to $2.790 per gallon. California prices also increased, rising 1.0 cent to $2.911 per gallon. Overall, diesel prices were an average of 22.3 cents per gallon higher than at this time last year, the EIA reported.