The Car and Truck Fleet and Leasing Management Magazine

Retail Gasoline and Diesel Prices Soar

November 19, 2007

WASHINGTON, D.C. --- The U.S. average retail price for regular gasoline surged 9.8 cents to $3.111 per gallon as of Nov. 12. That's the highest ever for this time of year. The price was 87.9 cents over last year's price for the same week, the Energy Department's Energy Information Administration (EIA) reported. Gains were recorded in all regions. The East Coast jumped 10.3 cents to $3.077 per gallon, 87.9 cents above a year ago. The Midwest price rose 9 cents to $3.127 per gallon, while the Gulf Coast price increased 8.8 cents to $2.981 per gallon --- the only region under the $3 mark. The Rocky Mountain region shot up 9.2 cents to settle at $3.064 per gallon. The West Coast maintained the top regional price, rising to $3.279 per gallon --- a boost of 11.4 cents. The average price for regular grade in California was $3.366 per gallon, up 13.5 cents from the previous week and 90.2 cents per gallon over the previous year. The retail diesel fuel price saw a new record high for the second straight week, gaining 12.2 cents to reach $3.425 per gallon. Diesel prices were up across the country and set regional record highs again. Both the East Coast and the Midwest saw diesel prices rise an average of 12.5 cents to reach $3.415 and $3.403 per gallon, respectively. The Gulf Coast diesel price rose 12.8 cents per gallon to $3.347 per gallon. The Rocky Mountain diesel price increased to $3.532 per gallon, a jump of 12.1 cents. The West Coast registered the highest regional price, soaring to $3.608 per gallon after strengthening by a dime. California diesel prices added 13.9 cents to reach $3.663 per gallon, another record price for the state.
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