Fuel Prices Reverse Trend, Start to Rise

By Jesse Sokolow on 18 February 2015
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Gasoline prices in New York in January 2015

Gasoline prices in New York in January 2015

After months of seeing significant decreases in fuel prices, motorists began to pay more at the pump in the past few weeks, although they remain significantly lower than they were a year ago.

Meanwhile, the average price for a gallon of diesel fuel was $2.865, $1.124 lower than a year ago, but $0.03 higher than the average price last week, according to the U.S. Energy Information Administration.

Meanwhile, the average price for a gallon of gasoline was $2.274, $1.106 less than it was a year ago, but $0.083 higher than the price last week.

Motorists on the West Coast experienced the greatest increase in diesel prices, with a $0.073 increase, for a price of $2.997 per gallon. New England saw a $0.045 rise, and the Central Atlantic region saw a $0.042 increase. Meanwhile, the Midwest saw a rise of $0.023, although the Rocky Mountain region had a decline of $0.006, the only area of the country to see a drop in fuel price over the past week.

The West Coast also saw the greatest increase in gasoline prices, with a $0.148 rise, bringing the price to $2.622. The Gulf Coast trailed closely behind, with a $0.090 increase, while the Lower Atlantic saw a $0.079 increase. Next was the Midwest, which saw a rise of $0.071, and New England, with a rise of $0.055.

(Photo: Accura Media Group)