Slight Diesel Drop Offset By Surge in Gasoline Price

February 21, 2001 11:19 AM, EST

The national average price of diesel fuel fell just two-tenths of a cent last week, to $1.518 per gallon, while the price of gasoline surged 3.3 cents to $1.476, its highest level in 10 weeks.

Meanwhile, members of the Organization of Petroleum Exporting Countries have begun to reconsider earlier plans for a cut in production quotas in March.

The downward trend in diesel prices — now in its third week — continues to bear out the forecasts of analysts who have been saying the price would fall unless there is a sudden cold snap.

As for gasoline, Diego Saltes, an economist with the Economics and Statistics Group of American Trucking Associations, said the “energy complex continues to strengthen its focus on the gasoline market, as the summer driving season approaches and refiners need to accumulate inventories to avoid supply disruptions.”

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