The U.S. average retail price of regular gasoline added more than 8 cents over the last week to hit $3.96 per gallon. This is $1.07 per gallon higher than last year at this time and is the highest price in May since EIA began tracking weekly data in 1990. For the second straight week, the Midwest registered the biggest increase across the major regions, with prices jumping 11 cents to $4.01 per gallon. The Midwest is the now the second major region where prices average more than $4 per gallon. On the Gulf Coast and East Coast, the average gasoline price increased more than eight cents per gallon. The Rocky Mountains saw prices increase six cents on the week, while West Coast prices recorded a four-cent gain to $4.14 per gallon, the highest average regional price in the country.
The national average diesel price gained almost 3 cents this week, climbing to $4.12 per gallon. The diesel price is $1.00 per gallon higher than last year at this time. The Gulf Coast saw prices gain almost four cents, the biggest increase among the regions, but Gulf Coast prices still remain the lowest in the Nation at $4.06 per gallon. Diesel prices on the West Coast are still the highest in the country at $4.33 per gallon. The East Coast, Midwest, Rocky Mountain, and West Coast regions all recorded price increases of more than two cents per gallon on the week.