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U.S. gasoline price hits record $2.33/gallon -Govt

Posted on: Monday, 11 July 2005, 15:52 CDT

WASHINGTON (Reuters) - The average price U.S. drivers pay for gasoline climbed 10.2 cents over the last week to a new record of $2.33 a gallon, the government said on Monday.

The old record pump price of $2.28 a gallon was set in mid-April, according to the U.S. Energy Information Administration. The new record price is up 41 cents from a year ago, based on the EIA's weekly survey of service stations.

When adjusted for inflation, the record pump price would be around $3.12 a gallon from March 1981.

In the weekly EIA survey, the West Coast had the most expensive regular unleaded gasoline, with the price up 6.8 cents at $2.48 a gallon. San Francisco was at the top of the agency's survey of cities, with the price of gasoline up 5.6 cents at $2.58.

The Gulf Coast states, where many refineries are located, had the cheapest fuel, with the price up 11.8 cents at $2.24 per gallon. Among major cities, Houston had the lowest pump price, with fuel up 9.4 cents at $2.19.

Separately, the average price for diesel fuel increased 6 cents to a record $2.41 a gallon, up 67 cents from a year earlier, the EIA said.

Truckers in the New England states paid the most for diesel at $2.53 a gallon, up 4.8 cents from last week. The Gulf Coast states had the cheapest diesel at $2.36 a gallon, up 6.5 cents.

Source: REUTERS

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