The U.S. average retail price for regular gasoline jumped 10.9¢ for the week ending May 12 to an all-time high of $3.722/gal. Meanwhile, diesel registered its third-largest one-week increase – 18.2¢ – to set a new mark of $4.331/gal.
Gasoline increased for the seventh straight week, a time period that’s seen a total jump of 46.3¢/gal. Regional prices increased across the U.S., with the East Coast adding 10.3¢ to $3.713, the Midwest surging 15.7¢ to $3.736, and the Gulf Coast up by 10.9¢ to $3.616. The Rocky Mountain region increased 11.5¢ to $3.609, the West Coast moved up by 3.3¢ to $3.833, and California added 1.6¢ to reach $3.919.
Diesel’s new record is $1.558/gal. higher than a year ago. The East Coast increased by 18.3¢ to $4.377, the Midwest surged 19.7¢ to $4.298, the Gulf Coast added 18.4¢ to $4.268, and the Rocky Mountain region rose 12¢ to $4.276. The West Coast jumped 15.1¢ to hit $4.454, and California ballooned by 16.5¢ to $4.547.