Diesel prices jump more than 11 cents per gallon

| 4/2/2007

The national average diesel price shot up more than 11 cents per gallon for the week ending Monday, April 2. The reported price is 17.3 cents higher per gallon than a year ago.

Analysts quoted by various media say tension in the Middle East – particularly with Iran – has been a factor in crude oil trading. Domestically, a slight rebound in supply recently has still not caught up with early spring demands, according to other media reports.

The combined average price for on-highway low-sulfur diesel and ultra-low sulfur diesel was $2.790, which was 11.4 cents higher than the previous price of $2.676 reported the previous week by the U.S. Energy Information Administration.

The EIA reported a national average price of $2.751 for low-sulfur diesel, up 11.7 cents from the previous week, while ULSD had an average price of $2.803, up 11.3 cents.

The EIA reports combined averages and separate averages on a national level, while prices for ULSD are further broken down into nine reporting regions.

The Midwest region and the Gulf Coast region had the biggest increases in prices for ULSD – from $2.668 to $2.791 and from $2.639 to $2.762 respectively.

ULSD in the Lower Atlantic region was 11.3 cents higher that it was a week ago at $2.760, while the Central Atlantic region was 11.2 cents higher at $2.818.

The East Coast region had an average diesel price of $2.782, 10.9 cents higher than the previously reported price of $2.673.

ULSD in the Rocky Mountain region was $2.890 per gallon, a 10.2-cent increase from $2.788.

The West Coast region and California region saw lesser increases – 8.2 cents and 7.0 cents respectively. ULSD in the West Coast region was $2.893 per gallon, while California inched closer to $3, averaging $2.939 for the week.

ULSD in the New England region increased 7.1 cents from $2.712 to $2.783.