Diesel prices surge 7 cents to $3.40 per gallon

| 1/18/2011

The national average price for on-highway diesel fuel shot up 7 cents per gallon during the past week. The U.S. Energy Information Administration reported an average of $3.407 for the week ending Monday, Jan. 17.

The largest surge by region occurred in New England, where the average price jumped 11 cents per gallon to $3.560 during the course of the week. The New England region now rivals California?s $3.562 as the highest average price by region.

The East Coast and Lower Atlantic regions also saw gains in excess of 8 cents per gallon for the week, according to the EIA.

ProMiles reported Tuesday?s average at $3.418 per gallon, up nearly 2 cents overnight. The highest tax-included average by state was Connecticut at $3.708 per gallon. Maine has the highest pre-tax price at $3.337 per gallon.

Average fuel prices by region, according to the U.S. EIA:

U.S. ? $3.407, up 7.4 cents
East Coast ? $3.448, up 8.4 cents
New England ? $3.560, up 11 cents
Central Atlantic ? $3.556, up 7.8 cents
Lower Atlantic ? $3.392, up 8.4 cents
Midwest ? $3.371, up 6.9 cents
Gulf Coast ? $3.366, up 8.2 cents
Rocky Mountain ? $3.374, up 4.0 cents
West Coast ? $3.509, up 6.4 cents

Meanwhile, on the New York Mercantile Exchange, futures for February crude oil were trading at $91.24, down about 30 cents a barrel from the opening bids.