Diesel prices on the rise

| Monday, October 23, 2006

It was a good run, but diesel prices that had been on a decline since Labor Day went up by an average of 2.1 cents for the week ending Monday, Oct. 23, according to the Energy Information Administration of the Department of Energy.

The national average for the price of a gallon of diesel went from $2.503 to $2.524 after seven weeks of average declines. Not all analysts are attributing the price increase to the OPEC cuts announced Oct. 19. According to Bloomberg News, supplies of distillate fuel, a category that includes diesel and heating oil, and gasoline both fell in the week. Bloomberg reported that U.S. refineries produced oil products at their lowest rate since April as companies shut units for maintenance.

The Midwest region saw the biggest increase, by 4.3 cents from $2.459 to $2.502.

Diesel prices rose from $2.539 to $2.563 in the Rocky Mountain states - a 2.4-cent increase.

The East Coast region reported a price of $2.537, up 1.6 cents from last week's price of $2.521.

New England averaged a 1.3-cent increase to $2.636, while the Central Atlantic region reported an increase of 1.5 cents to $2.651, and the Lower Atlantic region saw an increase of 1.8 cents to $2.480.

The Gulf Coast region has the lowest average price in the nation at $2.477 despite an increase of 1.6 cents.

Not all individual regions reported increases.

California dropped 3.4 cents from $2.703 to $2.669, and the West Coast region fell 2.7 cents to $2.628.

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