Despite rapidly rising domestic production of petroleum, gasoline prices are still rising. There are many diverse reasons for this, however, continuing high fuel prices underscore the fact that, so long as the United States remains dependent on oil (foreign or domestic), the nation’s economic and energy security will remain tied to volatile global oil markets – no matter how much more petroleum we produce here at home.
On February 27, the EIA reported that in the previous week: "The U.S. average retail price of regular gasoline increased four cents to $3.78 per gallon, up six cents from last year at this time." And, "the national average diesel fuel price increased less than a penny to remain at $4.16 per gallon, 11 cents higher than last year at this time."
The week of February 21, the EIA reported : "The average U.S. retail price for regular motor gasoline has risen 45 cents per gallon since the start of the year, reaching $3.75 per gallon on February 18. Between January 1 and February 19, the price of Brent crude, the waterborne light sweet crude grade that drives the wholesale price of gasoline sold in most U.S. regions, rose about $6 per barrel, or about 15 cents per gallon."