Diesel prices set another record

| Tuesday, August 23, 2005

The price of diesel continued to climb in the week ending Monday, Aug. 22, jumping 2.1 cents to set another record at $2.588 per gallon, according to the Department of Energy.

And, for the first time in a long time, the average price of gasoline rose above that of diesel, posting an average of $2.612 per gallon.

California once again saw the highest diesel prices, though the average there actually fell slightly to $3.037 per gallon. That’s still more than 88 cents higher than the average for the same week in 2004.

ProMiles, meanwhile, reported an average of $3.004 per gallon in California on Tuesday, Aug. 23, while AAA reported an average of $3.132 per gallon.

The rest of the West Coast wasn’t too far behind California , posting a slight increase to $2.897 per gallon.

The biggest increase happened in the Rocky Mountain region, where prices jumped 6.4 cents to $2.679 per gallon.

The Midwest saw an increase of 1.6 cents to $2.54 per gallon, while the Gulf Coast rose more than 3 cents to $2.512 per gallon.

The East Coast posted an average of $2.564 per gallon. Within that area, the Central Atlantic region had the highest prices at $2.654 per gallon. New England was next at $2.642 per gallon, and the Lower Atlantic region came in at $2.519 per gallon.

Meanwhile, prices for light, sweet crude rose above $65 per barrel in trading on the New York Mercantile Exchange on Aug. 23 before dropping back down closer to the $64 mark. According to The Associated Press, recent sabotage on oil pipelines in Iraq was to blame for the latest surge.

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