Diesel up more than 14 cents during August

| 9/5/2001

The weekly retail on-highway diesel prices released by the Energy Department Monday (Sept. 4) show the cost of fuel is up more than 14 cents over the past month. The national average price per gallon is $1.49 - up about 3.5 cents from a week ago.

The cost of fuel continues to climb throughout the nation with the biggest increase from a week ago in the Rocky Mountain region. Diesel there rose 8 cents to $1.53 per gallon on average.

Fuel in the state of California continues to keep truckers digging deeper into their pockets than anywhere else. The price per gallon jumped about 5.5 cents there for the second straight week to $1.63.

The lowest prices nationally are once again found in the Lower Atlantic region. Fuel there increased about 2 cents to $1.37 per gallon.

The remaining regions' price per gallon is as follows: East Coast, $1.41; New England, $1.46; Central Atlantic, $1.48; Midwest, $1.56; Gulf Coast, $1.40; and West Coast, $1.58, respectively.

The Department of Energy reports the average price of self-serve each week. Prices are based on a survey of 350 diesel service centers nationwide and include taxes.

On Sept. 1, OPEC began implementing a 1 million barrels per day production cut to stem a slide in oil prices, according to published reports. The cut, which took the oil cartel's overall production to 23.2 million barrels a day, keeping world oil prices to OPEC's liking. The 11-member cartel, which produces 40 percent of the world's oil has announced it is likely to leave oil production quotas unchanged when the group meets on Sept. 26 for its biannual meeting.