Diesel prices at highest level since 2008

By Greg Grisolano, Land Line staff writer | Monday, February 25, 2013

The nationwide average price for a gallon of diesel fuel crept up to $4.159, an increase of .002 cents per average over prices last week, according to the latest release from the U.S. Energy Information Administration.

Prices at the pump for diesel fuel have risen steadily nationwide since Jan. 14, when the average price was listed at $3.894, by the EIA. The latest data indicates prices are also up nearly 11 cents compared to prices at the pump one year ago. The last time diesel topped more than $4.15 was in 2008. The EIA price index is updated every Monday, except federal holidays.

The Rocky Mountain region remained the lowest nationwide at $4.057, despite the largest increase in average price of .025 cents. The Midwest region saw the largest decrease at .011 cents. California prices again ranked highest at $4.365.

The price of diesel as reported by EIA for each region is as follows:

    U.S. – $4.159, up .002 cents
    East Coast – $4.201, up .002 cents
    New England – $4.344, up .010 cents
    Central Atlantic – $4.262, up .008 cents
    Lower Atlantic – $4.129, down .004 cents
    Midwest – $4.121, down .011 cents
    Gulf Coast – $4.089, up .021 cents
    Rocky Mountain – $4.057, up .025 cents
    West Coast – $4.299, down .004 cents
    West Coast less California – $4.221, down .015 cents
    California – $4.365, up .004 cents

ProMiles, which surveys diesel prices daily at 9,400 truck stops, reported diesel prices at $4.152, a decrease of .001 cents overnight.

Rhode Island drivers paid on average $4.639 at the pump on Monday, while diesel prices in Montana averaged $3.891, a difference of $0.748 per gallon.

The price of one barrel of light sweet crude oil futures for April delivery on the New York Mercantile Exchange closed at $93.11 on Monday. Light sweet crude is the type most commonly associated with diesel production.