WASHINGTON, D.C. --- For the second straight week, the U.S. average retail price for regular gasoline decreased, falling 5.2 cents to $3.157 per gallon as of June 4. However, prices were still 26.5 cents per gallon higher than this time last year.
All regions saw price decreases, reported the Energy Department's Energy Information Administration (EIA). East Coast prices dropped 3.0 cents to $3.068 per gallon.
The largest regional decrease was in the Midwest, where prices fell 9.5 cents to $3.225 per gallon. Prices for the Gulf Coast fell 4.7 cents to $3.020 per gallon, while Rocky Mountain prices dropped 1.6 cents to $3.260 per gallon.
West Coast prices were down 3.1 cents to $3.318 per gallon. The average price for regular grade in California was down 3.3 cents to $3.374 per gallon, but remained 10.5 cents per gallon above last year's price.
Retail diesel prices also fell, decreasing 1.8 cents to $2.799 per gallon. Diesel prices were 9.1 cents per gallon lower than at this time last year. All regions reported diesel price decreases, the EIA said.
East Coast diesel prices fell 1.7 cents to $2.794 per gallon. In the Midwest, prices were down 1.9 cents to $2.764 per gallon, while the Gulf Coast saw a decrease of 2.7 cents to $2.749 per gallon. Rocky Mountain diesel prices were down 2.2 cents to $2.958 per gallon.
Diesel prices on the West Coast saw a decrease of 0.8 cent to 293.1 cents per gallon. California prices fell 0.3 cent to $2.972 per gallon, 25.5 cents per gallon lower than at this time last year.
Originally posted on Fleet Financials