National average price of diesel jumps 11.6 cents in one week

| Tuesday, February 19, 2008

Across the country, the average price for diesel fuel remained steady for two weeks in a row; however, the U.S. Energy Information Administration reports that the average price has jumped 11.6 cents from this past week’s numbers.

The national average diesel price was reported at $3.396 on Feb. 19, up from $3.280, which had held steady for the past two weeks. On average, cost for a gallon of fuel is still up 90.5 cents per gallon from a year ago.

The average price for ultra-low sulfur diesel increased 11.4 cents, while the average price for low-sulfur diesel jumped 13.2 cents in a week’s time.

The New England region still continues to have the highest average price of fuel at $3.588, but the region didn’t experience nearly the same increase per gallon – up 4.6 cents – as many of the other regions in the U.S.

Every region noticed an increase in the price of ultra-low sulfur diesel, with the most significant increase being in the Gulf Coast region, which went from $3.241 last week to $3.370, an increase of 12.9 cents.

The Lower Atlantic Region experienced the second highest increase, up 12.5 cents from the previous week. California came in with the third highest fuel price increase, up 11.8 cents from a week ago.

The Central Atlantic jumped 11.6 cents to $3.534, while the East Coast region increased 11.5 cents to $3.459 from $3.344 a week ago. In the Midwest region, the cost per gallon increased 11.3 cents to $3.377, while the West Coast region showed an increase of 10.5 cents from $3.357 to $3.462.

If you are heading out west, you might want to fuel up in the Rocky Mountain region, which increased only 8.4 cents per gallon from $2.269 to $3.353, as compared to the 11- and 12-cent increases per gallon in other regions this week.

The cost for crude oil rose to $96.15 per barrel, according to the New York Mercantile Exchange. This is an increase of more than $5 per barrel from the previous week’s average.

Comments