Retail Gasoline Up 4.9 Cents, Diesel Ties Record High
WASHINGTON, D.C. --- The U.S. average retail price for regular gasoline gained 4.9 cents to reach $2.872 per gallon as of Oct. 29. That's 65.4 cents higher than the price during the same week in 2006, reported the Energy Department's Energy Information Administration (EIA).
Prices in all regions were higher. The East Coast price rose 4.5 cents to $2.833 per gallon, while the Gulf Coast price rose 3.2 cents to $2.735 per gallon -- still the lowest regional price.
The Midwest price soared 7.6 cents to land at $2.864 per gallon, the EIA reported. The Rocky Mountain region's average price increased 2.8 cents to settle at $2.873 per gallon. The highest average price in the country was on the West Coast, where it reached $3.091 per gallon, an increase of 2.6 cents during the week and 67.7 cents per gallon over last year.
The average price for regular grade in California was $3.159 per gallon, up 1.6 cents from the previous week and 72.5 cents per gallon over the previous year.
Retail diesel prices climbed 6.3 cents during the week to reach an average of $3.157 per gallon, an amount equal to the all-time record high price of Oct. 24, 2005. Regional diesel prices were all higher, with the East Coast rising 7.0 cents to hit $3.148 per gallon, the EIA reported.
The Midwest diesel price pushed higher to $3.122 per gallon, increasing by 5.5 cents. The Gulf Coast price gained 6.8 cents per gallon to move to $3.062 per gallon. The Rocky Mountain diesel price increased to $3.281 per gallon, a gain of 5.2 cents.
Setting a second consecutive record for the West Coast region, diesel prices rose 7.1 cents to hit $3.394 per gallon. California diesel prices were up 6.8 cents to $3.406 per gallon, establishing another record price for the state.