Diesel breaks another record

| Wednesday, July 06, 2005

The average cost of diesel rose to another record high of $2.348 per gallon for the week ending July 4, according to the Energy Information Administration.

Though that price is only 1.2 cents higher than the previous week, it is a whopping 63.2 cents higher than the average for the same week of 2004.

California, as usual, had the highest price, coming in at $$2.554 per gallon, up 3.2 cents per gallon from the previous week. The rest of the West Coast was nearly 9 cents lower, at $2.467 per gallon.

New England had the next highest prices, coming in at $2.485 per gallon, up less than a penny from the week before. The Central Atlantic region wasn’t far behind at $2.475 per gallon, while the Lower Atlantic came in at $2.315 per gallon.

The average for the entire East Coast region rose slightly to $2.37 per gallon.

The biggest increase came in the Rocky Mountain region, where prices rose 4 cents to $2.328 per gallon. The Midwest posted the same price, while the Gulf Coast came in at $2.29 per gallon.

Meanwhile, crude oil prices continued to flirt with the $60 mark, rising above it once again on June 6 as fears of supply disruptions continued thanks to a tropical storm battered the Gulf of Mexico.

Tropical Storm Cindy shut down as many as 29 production and drilling platforms in the Gulf of Mexico on July 6.

And Tropical Storm Dennis, which is projected to become a hurricane, also had its sights set on the Gulf and was expected to hit there this weekend.

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