Average Retail Gasoline Price Dips, Diesel Price Sets Record
December 3, 2007
• by Staff
--- The U.S. average retail price for regular gasoline dropped 0.2 cent to $3.097 per gallon as of Nov. 26. That's 85.1 cents above a year ago, reported the Energy Department's Energy Information Administration (EIA).
Regional prices were mixed, with the East Coast gaining 0.7 cent to reach $3.092 per gallon. The highest regional price in the country was on the West Coast, up 0.2 cent to reach $3.305 per gallon. The average price for regular grade in California was $3.398 per gallon, up 0.3 cent from the previous week and 90.5 cents per gallon over the same week in 2006.
A decrease was recorded in the Rocky Mountain region, where a drop of half a cent sent the price to $3.063 per gallon. The Midwest price fell 1.1 cents to $3.059 per gallon, while the Gulf Coast dropped 0.3 cent to $2.966 per gallon --- still the only region under the $3 mark.
Topping the previous record high by almost 2 cents, the retail diesel fuel price jumped 3.4 cents to $3.444 per gallon. Diesel prices were up across the country and set regional record highs in the East Coast, Midwest and Gulf Coast.
The East Coast's diesel price increased the most, 4.6 cents to $3.453 per gallon. The Midwest average diesel price rose to $3.423 per gallon, 3.4 cents more than the previous week.
The Gulf Coast diesel price swelled 3.6 cents per gallon to $3.360 per gallon. The Rocky Mountain region's diesel price rose 2.0 cents to $3.527 per gallon, just a half cent shy of the peak. The West Coast recorded the smallest increase by moving 0.1 cent higher to $3.587 per gallon. California diesel prices declined 0.4 cent to fall to $3.620 per gallon.
Originally posted on Fleet Financials