Diesel prices continue to climb, oil down

| Monday, August 23, 2004

The national average U.S. retail price of diesel fuel has increased from the previous average of $1.825 to $1.874, the Department of Energy reported Monday, Aug. 23.

Once again, the highest average prices in the nation are found in California, where the average cost is $2.153.

Among the higher average prices were the West Coast region, at $2.061; the Central Atlantic and New England regions, at $1.944; and the Rocky Mountain region, at $1.896.

Other prices included the East Coast region, where the average price is $1.861; the Lower Atlantic region, at $1.818; the Midwest region, at $1.846; and the Gulf Coast region, at $1.833.

Meanwhile, rising crude oil futures eased for a second session Monday as Iraq resumed exports from its northern and southern outlets after lengthy disruption, despite fierce fighting in the city of Najaf.

The price of light crude declined 18 cents to $46.55 a barrel, after coming to within about 70 cents of the $50 mark Friday morning, the highest price since the New York Mercantile Exchange launched oil futures in 1983.

Prices dipped as Iraq restarted a pipeline from its northern fields after a three-month stoppage and resumed full exports through its southern terminals for the first time in two weeks, Reuters reported.

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