WASHINGTON, D.C. --- The U.S. average retail price for regular gasoline edged up half-a-cent last week to reach $2.919 per gallon as of May 1, the Energy Department reported. That's 68.4 cents per gallon higher than last year. Prices rose for the fifth week in a row, reaching their highest level since Oct. 3, 2005, the Energy Department's Energy Information Administration said. Prices varied throughout the country, with the East Coast seeing a decrease of 0.2 cent to reach $2.94 per gallon. Prices dipped in the Midwest and on the Gulf Coast. The West Coast saw the largest regional price increase of 12.2 cents to $3.131 per gallon, the highest regional price in the nation. California prices rose 13.4 cents to reach $3.202 per gallon. Retail diesel fuel prices gained 2 cents to reach $2.896 per gallon as of May 1, which is 63.4 cents higher than last year. Prices were up throughout the country, with the Rocky Mountains seeing the largest regional increase of 10.9 cents to $3.012 per gallon. The Gulf Coast had the lowest regional price in the country, gaining 1.5 cents to $2.832 per gallon. West Coast prices were still the highest regional prices in the nation, adding another 7.2 cents to hit $3.098 per gallon. California prices were even higher, increasing 6 cents to reach $3.163 per gallon.

Originally posted on Fleet Financials

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