National diesel average at $3.974; prices continue to shatter records

| 3/17/2008

The cost for a gallon of diesel has risen to the $4 mark or above in 19 states now, according to ProMiles. This is frustrating news for truckers who have watched helplessly as diesel prices continue to shatter new records every week.

ProMiles is reporting that New York has the highest statewide average for a gallon of diesel at $4.29 a gallon.

Monday, March 17, the U.S. Energy Information Administration reported the national average for diesel was at $3.974, a jump of more than 15.5 cents from last week and up more than $1.293 from one year ago.

The EIA is reporting that the price for diesel has reached the $4 or above mark in five of its nine regions in the U.S. The Central Atlantic region is reporting the highest regional average for diesel at $4.177, which is up 18.8 cents from last week and $1.458 from a year ago.

The New England region is reporting the second highest average at $4.119, a jump of 18.1 cents from last week. California is reporting the third highest increase of $4.083, an increase of 12.8 cents from a week ago.

Both coastal regions hit the $4 this week, with the East Coast region at $4.035, up 16.5 cents from last week’s average of $3.819, while the average increased to $4.083, a jump of 12.8 cents on the West Coast.

Three regions are hovering in the $3.90-range this week, with the Lower Atlantic region at $3.967, up 15.3 cents, and the Midwest region at $3.958, an increase of 17.4 cents. The Rocky Mountain region saw an increase of 16 cents to $3.892, while the Gulf Coast region, which reported the highest weekly increase last week, increased only 11.6 cents to $3.914.

The price of crude oil jumped to nearly $112 in early trading Monday morning, but dropped back to around $108.

The Associated Press is reporting that investors are still pouring money into oil as protection against the falling dollar.

– By Clarissa Kell-Holland, staff writer