Fuel Prices Continue to Rise into the Fall, Up 12% Since Start of Summer

By Dan Collins on 12 September 2012
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The price of gasoline and diesel fuel continues to rise, according to the latest figures from the U.S. Energy Information Administration, and both are approaching their 2012 highs. Currently, the average price for a gallon of regular unleaded gasoline is $3.847, and is $4.132 for diesel.

Nationally, the price of gasoline is up less than half (0.004) a cent from the previous week (September 3) but is up 49.1 cents (12.8%) from the July 2 low of $3.356 per gallon. Gas prices decreased between .004 and .015 in the southeast, indicating that the price climb may be slowing further. Diesel rose half a cent from last week and is up 48.4 cents (11.7%) since July 2.  It was down a fraction of a cent in California, the Gulf Coast, and Lower Atlantic.

The Gulf Coast region saw the lowest prices, at $3.641 per gallon of gasoline and $4.021 per gallon of diesel. California had the highest diesel prices at $4.477 per gallon, while the west coast excluding California had the highest gasoline prices, averaging $4.083 per gallon.

The price decreases in the southeastern U.S. may be attributed to a correction of price increases that took place prior to Hurricane Isaac, which impacted the region. Additionally, the traditional switchover from summer to winter blend may be prompting refineries to reduce production.