The Car and Truck Fleet and Leasing Management Magazine

Regular Gasoline Average Climbs to $3.937

June 01, 2008

WASHINGTON, D.C. --- For the ninth straight week, the U.S. average retail price for regular gasoline climbed to another all-time high, according to the Energy Department.

The department's Energy Information Administration's weekly report released May 29 revealed that the price shot up by 14.6 cents to $3.937 per gallon. During the past two weeks alone, prices have climbed by 21.5 cents.

Prices rose in all regions, with the East Coast price jumping by 14.2 cents to match the U.S. average at $3.937 per gallon. The average price in the Midwest went up 15.2 cents to $3.951 per gallon. The average price in the Gulf Coast jumped 14 cents to $3.829 per gallon, the lowest of any region.

The price in the Rocky Mountain region went up the most, surging 16.5 cents to hit $3.851 per gallon. Once again, the average price for the West Coast was the highest in the nation, shooting up by 14.6 cents to break through the $4 mark at $4.029 per gallon. The average price in California also shot past $4, hitting $4.099 per gallon, a jump of 14.7 cents.

During the previous week, the national average diesel price continued its upward momentum, surging up by 22.6 cents to $4.723 per gallon. Diesel prices rose in all regions by more than 20 cents. During the past three weeks, the national average price for diesel shot up by 57.4 cents. The average diesel price on the East Coast increased by 23.5 cents to reach $4.779 per gallon.

In the Central Atlantic portion of the East Coast, the diesel price went up by 23.1 cents to $4.913 per gallon, $2.031 above a year ago. In the Midwest, the diesel price went up the least of any region, but still jumped by 20.4 cents to hit $4.667 per gallon.

The average diesel price in the Gulf Coast was $4.673 per gallon, an increase of 23 cents. In the Rocky Mountain region, the average price grew by 21.1 cents to $4.653 per gallon. On the West Coast, the average diesel price soared 27.3 cents, the most of any region, to hit $4.883 per gallon. The average price in California shot past $5 for the first time by gaining 29 cents to land at $5.027 per gallon.


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