The Car and Truck Fleet and Leasing Management Magazine

U.S. Gasoline Prices on the Rise

May 23, 2002

The average price of gasoline increased almost a penny per gallon, resulting in an average price of $1.397, according to the Energy Department. This is the first time in two weeks the price of U.S. gasoline has risen, although a recent Energy Information Administration (EIA) survey of more than 800 service stations reports the price is still 29 cents lower than a year ago. The report showed that the West Coast had the most expensive regular unleaded gasoline, charging $1.505 a gallon, despite dropping 0.9 cents since last year. An average cost of $1.611 per gallon was the price in San Francisco, the city with the highest cost. Prices were down 1.6 cents to $1.523 in Los Angeles, and lowest in Houston, where prices remained steady at $1.334 a gallon. EIA anticipates the average price per gallon to average $1.44 during the summer months, with a peak price of $1.50 during the next month. Likewise, diesel fuel costs were down 10 cents from last year, but also increased for the first time in two weeks to $1.309 a gallon.
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