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US retail fuel prices reach record highs - EIA

US retail fuel prices reach record highs - EIA

Write: Blanda [2011-05-20]
HOUSTON --The Energy Information Administration (EIA) said in its weekly commentary on Thursday that the US average retail price for regular gasoline was up for the ninth consecutive week, hitting another all-time high.

The increase in gasoline prices at the pump comes as Americans began the first week of the US summer driving season.

EIA said the national average gasoline retail price shot up by 14.6 cents to $3.937 cents/gal, and, for the past two weeks, prices have climbed by 21.5 cents.

The East coast saw gasoline prices increase by 14.2 cents to match the US average at $3.937/gal, according to the EIA. The Midwest average price was up 15.2 cents to $3.951/gal.

In the Gulf coast, the gasoline price jumped 14 cents to $3.829/gal, the lowest of any region.

The Rocky Mountain region s average gasoline prices increased the most, gaining 16.5 cents to hit $3.851/gal.

In the West coast, the average gasoline price at the pump was the highest in the US, gaining 14.6 cents to reach $4.029/gal.

Diesel retail prices were also the highest in the West coast, the EIA said. The average diesel price soared by 27.3 cents to hit $4.883/gal. California shot past $5 for the first time by gaining 29 cents to land at $5.027/gal.