National average price of diesel shoots up 8 cents per gallon

| 7/7/2008

The short-lived downward trend in the national average of on-highway diesel prices came abruptly to an end when the national average shot up 8 cents per gallon, setting yet another record high.

The U.S. Energy Information Administration detailed in its July 7 report, a national average price for on-highway diesel at $4.727 per gallon. The increase comes after the EIA reported slight declines in the national average the previous two weeks.

The new record high national average has truckers paying an average of $1.878 more per gallon than they were during the first week in July of 2007.

The average price in California jumped 7.3 cents per gallon to once again top the $5 per gallon mark with a regional average of $5.001 per gallon. The West Coast region as a whole jumped nearly 7 cents per gallon as well to average $4.886 per gallon.

The Central Atlantic and New England regions both showed increases week to week, but remained in the $4.80 range with regional average of $4.887 and $4.863 per gallon respectively.

The regional average for the East Coast hovered below the $4.80 mark despite an 8.5 cent per gallon increase to a new regional average of $4.789.

The Lower Atlantic and Gulf Coast regions both had regional averages increase by more than 9 cents per gallon in a week’s time to averages of $4.741 and $4.697 per gallon.

The Rocky Mountain regional average increased the least, increasing 3.4 cents per gallon to $4.672.

While boasting the lowest average in the nation, the Midwest regional average still jumped significantly – 8.3 cents per gallon – to $4.654 per gallon.