The spate of continuing gas price increases in the United States has continued, and the U.S. Energy Information Administration’s latest weekly gas price survey showed the West Coast and Deep South faced the highest week-over-week price increases of the year, so far. Some areas witnessed gas prices increasing by nearly 10-cents per gallon, putting greater strain on drivers filling up at the pump.
The relentless rise in gas prices finally caused the EIA to issue a news release today explaining the causes of the rising gas prices. The EIA statement details many of the issues outlined on TurnpikeInfo.com news last week, including the increasing cost of crude oil and the reduction of refinery capacity in the United States.
Meanwhile, one bright spot in the weekly survey was for Midwestern drivers, who have suffered higher-than-average price increases in per-gallon fuel costs since the start of the year. This week’s survey showed gasoline in the Midwest actually dropped nearly 3¢ per gallon, although prices remained over 11-cents per gallon higher than one year ago.
For truckers and other drivers of diesel-powered vehicles, the price of diesel continued to increase, albeit at a slower rate than has been seen since the end of 2012. Weekly diesel averages were up less than a penny per gallon. However, compared to this time last year, diesel prices are up by about 11-cents per gallon.