US retail gasoline surges 9

US retail gasoline surges 9.7 cts to record $1.941/gal: EIA

Washington (Platts)--10May2004


The average US retail regular-grade gasoline prices surged 9.7 cts over the
past week to a new record, non-inflation-adjusted high of $1.941/gal, the US
Energy Information Administration said Monday. Nationwide average pump prices
are now 45 cts/gal higher than the corresponding week a year ago, although
they are still well shy of the US all-time, inflation-adjusted mark near
$3/gal in 1981 and the pump prices regularly seen in Europe. Prices in every
region of the country hit record highs. West Coast pump prices jumped 11.7 cts
for the most recent week to average $2.20/gal, shattering the region's
previous nominal price record of $2.088/gal hit for the week ended Apr 19. All
the other regions broke week-before records: East Coast prices gained 9.6 cts
to average $1.893/gal; Midwest prices jumped 9.1 cts/gal to average
$1.911/gal; Gulf Coast prices increased 9 cts to average $1.818/gal; and Rocky
Mountain prices gained 7.7 cts to average $1.968/gal.

This story was first published in Platts real-time news and market reporting
service Platts Global Alert
(http://www.platts.com/Oil/Real-Time%20Information/Global%20Alert/ ).

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