The Car and Truck Fleet and Leasing Management Magazine

Gasoline Increases to $2.24 Per Gallon

May 16, 2016

Photo via Wikimedia.
Photo via Wikimedia.

The national average price of gasoline increased 2.2 cents to $2.242 for the week ending May 16, according to federal records.

Gasoline is now 50.2 cents lower than it was a year ago. It increased in five regions and decreased in three regions. The average price was flat in the Gulf Coast region. The sharpest increase came in the Rocky Mountain region with a 2.9-cent increase to $2.243. New England's seven-tenths of a cent decline was the top decliner.

Among states, four now have gasoline above $2.50. Washington ($2.547) and Alaska ($2.52) joined California ($2.797) and Hawaii ($2.665) this week. Two states now have gasoline below $2, including Texas ($1.995) and Arkansas ($1.992), according to the AAA's Daily Fuel Gauge Report.

Meanwhile, the average price of diesel increased 2.6 cents to $2.297. Diesel now costs 60.7 cents less than it did a year ago.

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