average U.S. retail price of diesel fuel increased to $1.591 from the previous
average of $1.559, the Department of Energy reported.
its last session in December, OPEC oil ministers hinted they could decide to
lower production in anticipation of an expected decrease in demand in the third
quarter. The cartel is expected to meet in Algiers Feb. 10.
oil prices are currently hovering above $30 a barrel in both London and New
York, with freezing weather in the United States driving up the demand while
supplies and stocks remain tight.
For the third
consecutive week, the highest average prices are in New England, where diesel
fuel reached $1.777; in the Central Atlantic region, where the price is $1.737;
and in California, where the average price is $1.680 a gallon.
The lowest prices are in the Midwest, at
$1.564; the Rocky Mountain region, where the
price is $1.555; and on the Gulf Coast, at $1.558.
prices: the West Coast, where the price is $1.639; the Lower Atlantic region,
where the average price is $1.579; and $1.636 on the East Coast.