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Gasoline Prices Rise to $2.47 Per Gallon

March 03, 2015

Photo via Wikimedia.
Photo via Wikimedia.

The average price of a gallon of unleaded gasoline rose 14.1 cents to $2.473 for the week ending March 2, according to federal data.

Even with an across-the-board increase in all nine regions tracked by the U.S. Energy Information Administration, gasoline is still $1.006 less than a year ago. The average price increased 37.2 cents to $3.13 on the West Coast. The least costly increase came in the Lower Atlantic, where it rose 8 cents to $2.335.

Among the states, gasoline averages at least $2 a gallon everywhere. Gasoline costs more than $2.50 per gallon in eight states and Washington, D.C. This week, California surpassed Hawaii as the state with the most expensive gasoline at $3.385.

The surge in prices in California came a week after an explosion stopped gasoline production at a Torrance refinery operated by Exxon Mobil Corp., reports the Associated Press. Prices in California could fall in July, following a vote from the State Board of Equalization. The board voted Feb. 24 to cut the excise tax to 30 cents from 36 cents, reports ABC News.

Meanwhile, the average price of diesel rose 3.6 cents to $2.936. Diesel now costs $1.08 less than it did a year ago.

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