Diesel Prices Rise 1.8 Cents to $1.771
The national average price of diesel fuel rose another 1.8 cents a gallon, the Department of Energy reported Monday, extending its record high to $1.771.Diesel fuel is the primary fuel of the trucking industry and its escalating cost has been of great concern to the industry.
The report by the Energy Information Administration showed that diesel fuel rose over $2 a gallon in New England after posting an increase of 4.7 cents. The increase left diesel prices in that region of the country at $2.001 a gallon.
Consumers along the Gulf Coast saw some measure of relief as diesel prices fell 0.3 cent a gallon to $1.697. With the decline, the Gulf Coast is now the only region with an average diesel price below $1.70.
The average regional increase in the price of diesel was 3.08 cents a gallon, led by an 8.1-cent-a-gallon increase along the West Coast, EIA said.
High oil prices, caused by fears of a war in Iraq, among other geopolitical events and an unusually cold winter in the United States. In the United States, crude oil has been hovering around $37 a barrel in price, news services said.
Each week, EIA – the analytical arm of the Energy Department – surveys 350 diesel-filling stations to compile a snapshot of diesel prices around the country.
