After a few weeks of declines, diesel prices took a slight
upturn for the week ending Aug. 1, rising less than a penny to a national
average of $2.348 per gallon. Even though this is a small increase, it is still
more than 56 cents higher than prices for the same week in 2004.
According to the Energy Information Administration, the
biggest increase was in California, where prices shot up 7.9 cents from the
week before to $2.657 per gallon. The rest of the West Coast also saw a big
increase, jumping 6.4 cents to $2.594 per gallon.
The only other regional increases were in the Gulf Coast and
Rocky Mountain regions, which rose slightly to $2.279 per gallon and $2.421 per
gallon, respectively. The Midwest remained the same at $2.292 per gallon.
Prices along the East Coast, meanwhile, dipped slightly,
with the average there falling to $2.356 per gallon. New England posted a
2-cent drop to $2.488 per gallon, while the Central Atlantic region fell 1.6
cents to $2.465 per gallon. The Lower Atlantic region had a slight decrease to
$2.297 per gallon.
Prices for light, sweet crude oil fell in trading on
Tuesday, Aug. 2, on the New York Mercantile Exchange after reaching record
highs Monday following the announcement of the death of King Fahd of Saudi
After hitting $62.20 a barrel Monday, prices were falling
Tuesday and dropped close to the $60 mark at one point.