WASHINGTON, D.C. --- The U.S. average retail price for regular gasoline grew by 3.8 cents last week to reach $2.947 per gallon as of May 15. That's 78.4 cents higher than last year, according to the Energy Department's Energy Information Administration (EIA).
This marks the sixth time in seven weeks that prices have climbed. Prices rose throughout the country. The largest regional price increase of 8.3 cents occurred in the Midwest, pushing prices to $2.866 per gallon. West Coast prices remained the highest in the nation, gaining 1 cent to reach $3.25 per gallon. However, California prices fell by 0.2 cent to hit $3.33 per gallon. The East Coast saw a price increase of 2.4 cents to reach $2.934 per gallon, the EIA reported.
Retail diesel fuel prices gained 2.3 cents to reach $2.92 per gallon as of May 15, which is 73.1 cents higher than last year. Prices rose 2.9 cents per gallon in the Midwest, the highest regional increase, to reach $2.87 per gallon. West Coast prices remained the highest in the country, gaining 1.2 cents to reach $3.192 per gallon. Meanwhile, California prices edged down 0.2 cent to hit $3.242 per gallon. East Coast prices rose 2.3 cents to $2.907 per gallon, with New England and Central Atlantic average prices topping $3 per gallon.
Originally posted on Fleet Financials