Diesel prices rise - Ivan suspected culprit

| Monday, September 13, 2004

The average national retail price of diesel has increased to $1.874 from last week’s average of $1.869 per gallon, the U.S. Energy Department announced Sept. 13.

Analysts said fears about supply stability due to hurricane Ivan contributed to the concerns.

Sunday, UK oil giant Shell said it had shut down offshore production wells in the eastern Gulf of Mexico and was 750 evacuating workers from the eastern and central Gulf, according to press accounts.

The firm also has shut off 270,000 barrels per day of oil production, more than three times the amount that was affected by the previous hurricanes Charley and Frances.

Meanwhile, the highest prices in the nation continue in California, where the price currently averages $2.131 per gallon, and in the West Coast region, where the price stands at $2.040.

Then comes New England, where the price is $1.954; the Central Atlantic, where the price is $1.938; and the Rocky Mountain states, where the price is $1.919.

Other prices: $1.829 in the Lower Atlantic states, $1.847 in the Midwest and $1.826 in the Gulf Coast region.

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