U.S. retail price of diesel fuel rose to $1.679 from the previous average
of $1.648, the Department of Energy reported April 12.
prices were in California, at $2.162; New England, at $1.748, also the
price in the Rocky Mountain region; the Central Atlantic region, at $1.721;
and on the West Coast, where the average price is $2.026.
included the Lower Atlantic region, where the average price is $1.596;
the Midwest, at $1.631; the Gulf Coast, at $1.605; and the East Coast,
price spikes, eight senators last week endorsed a bill that would give
federal antitrust agencies authority to file suit in U.S. courts against
members of the Organization of Petroleum Exporting Countries for alleged
price gouging, Gannett News Service reported.
supply system is "vulnerable" to severe price spikes if major
refinery or pipeline outages occur, DOE's Energy Information Administration
said in its annual summer forecast.
high fuel prices are caused by high crude oil prices, which OPEC has brought
about by limiting supplies, said Sen. Mike DeWine, R-OH.
were a group of international oil companies getting together to set prices
and cut output, it could be prosecuted under U.S. antitrust law,” he said
at a Senate hearing on the bill April 7. “But to this day, OPEC continues
to receive special treatment under U.S. antitrust law.”
is one option Congress is considering to reduce prices. Other approaches
include a stalled Senate energy bill and possible investigations by the
Federal Trade Commission of alleged price-fixing by domestic oil companies.