By David Tanner, Land Line associate editor
The national average price for on-highway diesel spiked 7.5 cents during the past week and is at $3.513 per gallon for the week ending Monday, Feb. 7, 2011.
West Coast and California regions saw increases of nearly a dime per gallon during the past week, with California topping the list at $3.707 per gallon.
The national average is leaving last year’s average in the dust – nearly 75 cents higher. A 200-gallon purchase that cost $553.80 one year ago during a declining trend is now costing $702.60. That’s an increase of $148.80 and the trend is moving upward.
Average diesel prices by region, according to the EIA:
U.S. – $3.513, up 7.5 cents
East Coast – $3.565, up 7.1 cents
New England – $3.717, up 8.4 cents
Central Atlantic – $3.682, up 7.1 cents
Lower Atlantic – $3.501, up 6.9 cents
Midwest – $3.475, up 7.6 cents
Gulf Coast – $3.455, up 7.1 cents
Rocky Mountain – $3.459, up 6.3 cents
West Coast – $3.630, up 9.7 cents
California – $3.707, up 9.5 cents
ProMiles reported the daily average at $3.530 per gallon on Monday, up just under half a cent overnight.
Meanwhile, the price of crude oil has dropped slightly on news that supply remained stable despite recent unrest in Egypt.
March futures for light sweet crude were trading Monday around $87.62 at midday, down about $1.41 a barrel from the previous day. December futures that were trading last week at nearly $100 a barrel were at $98.20 on Monday.
Reuters analysts stated that refinery problems in the U.S. coupled with an increased demand for heating oil during the past week have kept oil prices from coming down further.