Gasoline prices continue to rise with increasing summer driving demand and falling supply.
 - Photo by Vince Taroc.

Gasoline prices continue to rise with increasing summer driving demand and falling supply.

Photo by Vince Taroc.

The average national price of regular unleaded continued its move higher with a 3.6-cent increase to $2.779 per gallon for the week ending July 15, according to the U.S. Energy Information Administration.

Since late June, when the average price sat at $2.66, pump prices have been steadily increasing. However, the average price is 8.6 cents lower than a year ago.

On the week, prices increased in most of the nine regions tracked by the EIA. The largest increase came in the Midwest (9.5 cents), and average prices fell in the Rocky Mountain (2.5 cents) and West Coast (2.3 cents) regions. Prices along the Eastern seaboard steadily increased, and gasoline in the nine regions remains lower than a year ago.

Gasoline stocks are tightening in the face of increased demand from summer driving, according to a July 11 report from the EIA.

The average price of a gallon of diesel fell four-tenths of a cent to $3.051, which is 18.8 cents lower than a year ago, according to EIA.

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