Managing the Financial Side of Commercial Fleets

U.S. Gasoline Prices Highest Ever

April 16, 2008

WASHINGTON, D.C. --- For the third consecutive week, the U.S. average retail price for regular gasoline moved higher, setting another all-time record of $3.389 per gallon, the Energy Department reported April 16.

The price gained 5.7 cents from the previous week and rose 51.3 cents higher than a year ago, according to the department's Energy Information Administration (EIA). On a regional basis, prices not only increased throughout the country but also reached new all-time highs in every region.

The average price on the East Coast went up 5.1 cents to $3.335 per gallon, 49.6 cents higher than last year. The price in the Midwest increased 5.9 cents to $3.358 per gallon, up 55.1 cents from a year earlier. The average price in the Gulf Coast of $3.285 per gallon was the lowest of any region, and the increase there of 3.2 cents was the smallest increase for any region, the EIA said.

The average price in the Rocky Mountains increased to $3.324 per gallon, up 5.7 cents from the previous week. The West Coast price increased by the largest amount for any region, moving up 8.4 cents to $3.662 per gallon. That's 46.7 cents higher than a year ago.

The average price in California increased even more, shooting up 8.9 cents to reach $3.774 per gallon.

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