WASHINGTON, D.C. --- For the second straight week, the U.S. average retail price for regular gasoline increased, climbing 6.8 cents to reach $3.049 per gallon as of July 16. Prices were 6.0 cents per gallon higher than this time last year, reported the Energy Department's Energy Information Administration (EIA). All regions recorded price hikes. East Coast prices rose 4.8 cents to $2.972 per gallon. The highest regional price in the nation occurred in the Midwest, where prices jumped 12.7 cents to $3.172 per gallon. Prices for the Gulf Coast increased 6.3 cents to $2.921 per gallon. In the Rocky Mountain region, the average price was $3.093 per gallon, up 2.7 cents during the week and 20.3 cents per gallon above last year. West Coast prices increased 0.9 cent to $3.089 per gallon. The average price for regular grade in California was higher by 2.2 cents to $3.158 per gallon. Retail diesel prices rose to an average of $2.889 per gallon, 4.0 cents more than the previous week, the EIA reported. Diesel prices were 3.7 cents per gallon lower than at this time last year. All regions registered diesel price increases. East Coast prices were higher by 2.1 cents to reach an average of $2.874 per gallon. In the Midwest, diesel prices climbed 5.6 cents to $2.878 per gallon. The Gulf Coast saw a rise of 3.6 cents to $2.821 per gallon. The Rocky Mountain region gained 2.2 cents, settling at $2.977 per gallon. The West Coast diesel price strengthened 4.4 cents to $3.031 per gallon, 2.0 cents per gallon lower than at this time last year. California diesel prices also rose, by 5.7 cents, to $3.147 per gallon.

Originally posted on Fleet Financials

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