The Car and Truck Fleet and Leasing Management Magazine

Average U.S. Retail Price for Gasoline Passes $3/Gallon Mark

November 12, 2007

WASHINGTON, D.C. --- The U.S. average retail price for regular gasoline soared to $3.013 per gallon as of Nov. 5. That's 14.1 cents over the previous week and 81.3 cents higher than last year, reported the Energy Department's Energy Information Administration (EIA). Gains were recorded in all regions. The largest increase occurred in the Midwest, where the average price rose 17.3 cents to $3.037 per gallon --- 85.0 cents above a year ago. The East Coast price climbed 14.1 cents to $2.974 per gallon, while the Gulf Coast price rose 15.8 cents to $2.893 per gallon --- still the lowest regional price. The Rocky Mountain region's price increased 9.9 cents to settle at $2.972 per gallon. The highest price in the country was on the West Coast --- $3.165 per gallon, a jump of 7.4 cents during the week. The average price for regular grade in California was $3.231 per gallon, up 7.2 cents from the previous week and 83.5 cents per gallon over the previous year. Ascending to both national and regional record highs, retail diesel prices skyrocketed 14.6 cents during the week to reach $3.303 per gallon. That surpassed the previous record high price by 14.6 cents. All regional diesel prices peaked to unprecedented highs. The East Coast price climbed 14.2 cents to hit $3.290 per gallon. The Midwest diesel price moved higher to $3.278 per gallon, increasing by 15.6 cents. The Gulf Coast diesel price gained 15.7 cents per gallon to reach $3.219 per gallon. The Rocky Mountain diesel price increased to $3.411 per gallon, a gain of 13.0 cents. The West Coast tallied the highest regional diesel price, hitting $3.508 per gallon after jumping 11.4 cents. California diesel prices were up 11.8 cents to reach $3.524 per gallon, another record price for the state.
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