Fuel Prices Spike Across Nation
The price that drivers are paying at the pump for a gallon of gasoline has gone up significantly across the country since last week. According to data published by the U.S. Energy Information Administration, prices increased by an average of $0.181 or 5.5%, to $3.538. The price of diesel has gone up by nearly $0.10 per gallon, to $4.022 per gallon, a 2.5% increase.
Over the past week, the Midwest saw the greatest increase in gasoline prices, with a gallon now costing $3.513, up $0.224 from its previous price of $3.289 per gallon. The West Coast was a close second, with prices rising $0.193 per gallon from last week’s price of $3.545. The price of gasoline on the West Coast now, $3.738 per gallon, is also the highest in the country, while New England has the second highest prices ($3.682 per gallon).
On the diesel front, prices were up the most on the West Coast, with an increase of $0.017 to $4.166. New England has the highest cost of diesel this week however, at $4.237 per gallon, up $0.056 from last week.
Fuel prices are up as a result of rising crude oil prices as well as a seasonal switch from winter-blend fuels to summer blends by refiners, which cause a decline in supply during the conversion period.
(Photo: Accura Media Group)