The Car and Truck Fleet and Leasing Management Magazine

U.S. Average Gasoline Price Climbs Higher

June 23, 2008

WASHINGTON, D.C. --- The U.S. average retail price for regular gasoline moved up to yet another record high last week, according to an Energy Department report released Wednesday, June 18.

The jump of 4.3 cents was the 12th consecutive weekly increase, bringing the price to 4.082 per gallon, a surge of 82.3 cents since March 24, according to the department's Energy Information Administration (EIA).

The average price for the East Coast increased 3.3 cents to $4.052 per gallon. The Midwest price rose 1.5 cents to $3.997 per gallon. The Gulf Coast price grew 2.8 cents to $3.937 per gallon, once again remaining the lowest of any region, the EIA said.

In the Rocky Mountain region, the price jumped 5.3 cents to $3.994 per gallon. The price rise on the West Coast was sharply higher than the other regions, surging 12.7 cents to hit $4.452 per gallon. The average price in California soared 15.5 cents to reach a record $4.588 per gallon.

The national average price of diesel fuel was unchanged from the previous week at $4.692 per gallon. On a regional basis, prices were mixed, moving up slightly in the East Coast and Midwest, but dropping somewhat in the Gulf Coast, Rocky Mountains and West Coast.

The average diesel price on the East Coast increased 0.9 cent to $4.752 per gallon. Within the region, prices increased in New England and the Lower Atlantic but dipped slightly in the Central Atlantic. Despite the small drop of half a cent in the Central Atlantic, the price of $4.874 per gallon was still $2.005 higher than a year ago.

In the Midwest, the price of diesel moved up three-tenths of a cent but remained the lowest of any region at $4.618 per gallon. The average price in the Gulf Coast was $4.656 per gallon, dropping just two-tenths of a cent. The diesel price in the Rocky Mountains dropped 1.3 cents to $4.685 per gallon. On the West Coast, the average diesel price dipped 2.2 cents to $4.852 per gallon. In California, the average price also fell, dropping 2.3 cents to $4.969 per gallon.


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