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Diesel prices continue to climb

The average U.S. retail price of diesel fuel has increased to $1.595 from the previous average of $1.584, the Department of Energy reported recently.

The highest prices were in California, at $1.864; New England, at $1.767; the Central Atlantic region, at $1.736; and on the West Coast, where the average price is $1.788.

The dollar-fifty/sixty range greeted the Lower Atlantic region, where the average price is $1.551; the Midwest, at $1.555; the Gulf Coast, at $1.536; $1.616 on the East Coast; and in the Rocky Mountain region, where the price is $1.566

Meanwhile, oil prices have risen by about 8 percent to above the $33.50 a barrel level since OPEC announced two weeks ago it was cutting oil production quotas by 1 million barrels per day.

The bad news: Analysts predict that, going by the resolve of OPEC ministers to keep supply tight, oil prices may average $30 per barrel throughout 2004.

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