State’s Gasoline Prices Fall in Week

Pump prices fell in California during the last week while the U.S. average climbed on the strength of higher gasoline prices in the Midwest, an Energy Department report showed Monday.

In California, the average cost of a gallon of self-serve gasoline dropped 3.4 cents to $2.439 in the week ended Monday, according to a survey by the department’s Energy Information Administration. A year ago, the average was 26.3 cents lower.

The U.S. retail gas price average rose 1.4 cents to $2.254 a gallon, the first increase in retail fuel prices in four weeks, which followed a sharp jump in crude oil costs. The national price for regular unleaded gasoline was up 32.6 cents from a year ago.

Pump prices have been moving lower with U.S. crude oil prices in recent weeks.

On Friday, crude oil for April delivery jumped $2.37 a barrel after a suicide bomb attack on the world’s largest oil processing center in Saudi Arabia. On Monday, U.S. oil futures prices gave up most of those gains, falling $1.91, or 3%, to $61 a barrel.

The price of crude oil accounts for about half the cost of making gasoline.

In the latest weekly survey, the West Coast had the most expensive regional gasoline, with the price down 2.7 cents at $2.383 a gallon.

Los Angeles sold the most expensive gas, at $2.456 a gallon, down 5.1 cents.

The Midwest recorded the largest price increase, up 9.2 cents to $2.259 a gallon.

The Gulf Coast states had the cheapest gasoline at $2.152 a gallon, down 1.5 cents. Among major cities, Houston had the lowest pump price, down 4.4 cents at $2.105 a gallon.

Separately, the average diesel fuel price paid by truckers rose 1.6 cents over the last week to $2.471 a gallon, up 35 cents from a year earlier, the agency said.

Truckers on the West Coast paid the most for diesel at $2.623 a gallon, up 2.9 cents from last week.

Reuters was used in compiling this report.