operations about to refocus on refining home heating fuel, average fuel prices,
which have soared in recent weeks, once again took off.
oil prices Oct. 11 reached new heights, hitting the $53.67 per barrel mark before
prices made a precarious landing. Oil closed a little lower Tuesday, Oct. 12,
the Louisiana Offshore Oil Port said last week it would close operations due to
a tropical storm that threatened hurricane status.
aggravating factor was a reported increase in Venezuelafrom 1 percent
to 16.6 percent for drilling royalties paid by foreign oil companies.
effect on diesel
all the previous factors added into the diesel equation – and because it’s time
for refineries to change over to home heating oil – the average national retail
price of diesel continued to rise from last week’s average national per-gallon
price of $2.053 to the this week’s new level of $2.092, the U.S. Energy
Department announced Oct. 12.
the second consecutive week – a historic first – prices in all regions remained
above the $2 mark.
highest prices in the nation continue to be in California, where the price
currently averages $2.322 per gallon, and in the West Coast region, where the
price stands at $2.256.
Meanwhile, in New
England, the average price is $2.212; in the Central Atlantic, the price is
$2.200; on the East Coast, the price is $2.100; it’s $2.047 in the Lower
Atlantic states; $2.055 in the Midwest; $2.033 in the Gulf Coast states; and
$2.132 in the Rocky Mountain states.