Gasoline Price Resumes Upward Climb
WASHINGTON, D.C. --- After a one-week respite, the U.S. average retail price for regular gasoline increased to a new record high, moving up 1.6 cents to $4.095 per gallon, according to the Energy Department's latest weekly report issued July 2.
Prices rose throughout the country, with the exception of the West Coast where the price dipped a bit. On the East Coast, the price went up a cent to $4.057 per gallon, the department's Energy Information Administration (EIA) said.
In the Midwest, the increase of 3.5 cents was the largest of any region and pushed the price above $4 for the first time -- to $4.031 per gallon. The Gulf Coast price remained the lowest of any region and was the only one under $4 at $3.928 per gallon, an increase of 0.9 cent. The Rocky Mountain price rose 3.2 cents to $4.034 per gallon. Although the price on the West Coast fell, the drop was only four-tenths of a cent to $4.456 per gallon. The average in California also declined somewhat, dipping 1.2 cents to $4.573 per gallon, the EIA said.
The U.S. average retail diesel price dropped for the second straight week, falling three-tenths of a cent to $4.645 per gallon. On a regional basis, the changes were mixed, with small decreases in the East Coast, Midwest, and Rocky Mountain regions. Meanwhile, the Gulf Coast and West Coast regions registered slight increases.
The average diesel price on the East Coast fell 0.7 cent to $4.704 per gallon. In the Midwest, the diesel price slipped 0.3 cent to $4.571 per gallon and remained the lowest of any region. The average price in the Gulf Coast went up by two-tenths of a cent to $4.604 per gallon.
The Rocky Mountains registered the largest decrease of any region, slipping 1.4 cents to $4.638 per gallon. On the West Coast, the average diesel price increased for the first time since May 26. Nonetheless, the price was nearly unchanged, rising just 0.1 cent to $4.817 per gallon. In California, the average diesel price also increased, by 0.6 cent, to $4.928 per gallon, the EIA reported.