WASHINGTON, D.C. --- The U.S. average retail price for regular gasoline fell by 6.4 cents last week to $2.883 per gallon as of May 22, which is 75.8 cents higher than last year. The Energy Department's Energy Information Administration (EIA) reported the price drop in its latest weekly newsletter.
This is only the second time in eight weeks that prices have fallen. Prices declined throughout the country, with the largest regional price decrease of 10.9 cents found in the Midwest, deflating prices to $2.757 per gallon. West Coast prices remained the highest in the nation, falling 5.3 cents to hit $3.197 per gallon, the EIA reported. Meanwhile, California prices were down 7.5 cents to $3.255 per gallon. The East Coast saw a price decrease of 4.1 cents to reach $2.893 per gallon.
Retail diesel fuel prices dropped 3.2 cents to reach $2.888 per gallon during the same period. That's 73.2 cents higher than last year. The Rocky Mountains saw the largest regional price decrease of 5.0 cents to hit $3.024 per gallon. West Coast prices remained the highest in the country, falling 1.7 cents to $3.175 per gallon. California prices softened 0.8 cent to $3.234 per gallon. East Coast prices fell 3.0 cents to $2.877 per gallon, the EIA reported.
Originally posted on Fleet Financials