U.S. Retail Gasoline Price Up, 1st Time in 4 Weeks
U.S. retail gasoline prices rose 1.4 cents to $2.25 a gallon in the latest week, the government said on Monday, as the first increase in motor fuel prices in four weeks followed a sharp jump in crude oil costs.
The national price for regular unleaded gasoline was up 33 cents from a year ago, based on the federal Energy Information Administration's survey of service stations.
The jump in pump prices mirrored a huge rise in U.S. crude oil prices last Friday of $2.37 a barrel after a suicide bomb attack on the world's largest oil processing center in Saudi Arabia. On Monday, U.S. oil prices gave up most of those gains, falling $1.91, or 3 percent, to $61 a barrel.
The price of crude oil accounts for about the half the cost of making gasoline.
In the EIA's latest weekly survey, the West Coast had the most expensive regional gasoline, with the price down 2.7 cents at $2.38 a gallon. Los Angeles topped the survey of cities, with gasoline down 5.1 cents at $2.46 a gallon.
The Gulf Coast states had the cheapest gasoline at $2.15 a gallon, down 1.5 cents. Among major cities, Houston had the best pump price, down 4.4 cents at $2.11 a gallon.
The EIA report also showed prices, rounded to the nearest penny, down 4.7 cents at $2.36 in Miami, down 1.6 cents at $2.27 in New York City; up 2.4 cents at $2.27 in Chicago; up 10.9 cents at $2.22 in Cleveland; down 0.7 cent at $2.22 in Seattle and down 4.5 cents at $2.17 in Boston.
Separately, the average diesel fuel price paid by truckers rose 1.6 cents over the last week to $2.47 a gallon, up 35 cents from a year earlier, the EIA said.
Truckers on the West Coast paid the most for diesel at $2.62 a gallon, up 2.9 cents from last week. The Midwest states had the cheapest diesel at $2.42 a gallon, up 1.9 cents. - Reuters
Sun2Surf
The national price for regular unleaded gasoline was up 33 cents from a year ago, based on the federal Energy Information Administration's survey of service stations.
The jump in pump prices mirrored a huge rise in U.S. crude oil prices last Friday of $2.37 a barrel after a suicide bomb attack on the world's largest oil processing center in Saudi Arabia. On Monday, U.S. oil prices gave up most of those gains, falling $1.91, or 3 percent, to $61 a barrel.
The price of crude oil accounts for about the half the cost of making gasoline.
In the EIA's latest weekly survey, the West Coast had the most expensive regional gasoline, with the price down 2.7 cents at $2.38 a gallon. Los Angeles topped the survey of cities, with gasoline down 5.1 cents at $2.46 a gallon.
The Gulf Coast states had the cheapest gasoline at $2.15 a gallon, down 1.5 cents. Among major cities, Houston had the best pump price, down 4.4 cents at $2.11 a gallon.
The EIA report also showed prices, rounded to the nearest penny, down 4.7 cents at $2.36 in Miami, down 1.6 cents at $2.27 in New York City; up 2.4 cents at $2.27 in Chicago; up 10.9 cents at $2.22 in Cleveland; down 0.7 cent at $2.22 in Seattle and down 4.5 cents at $2.17 in Boston.
Separately, the average diesel fuel price paid by truckers rose 1.6 cents over the last week to $2.47 a gallon, up 35 cents from a year earlier, the EIA said.
Truckers on the West Coast paid the most for diesel at $2.62 a gallon, up 2.9 cents from last week. The Midwest states had the cheapest diesel at $2.42 a gallon, up 1.9 cents. - Reuters
Sun2Surf
posted by Ottawa Gas Prices | 8:20 PM
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