Diesl Shatters All-time Recored; Experts Predict $4.00 Mark
eTrucker Staff
The average price now has been above $3 for 24 consecutive weeks.
All regions tracked by DOE saw prices increases. The Central Antlantic had the most expensive diesel in the nation, up 13.2 cents to $3.825 per gallon.
The nation’s least expensive diesel was in the Rockies, where week-over-week prices climbed 10.0 cents to $3.573 per gallon.
Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service, told the Associated Press that diesel may well pass the $4 mark this spring, thus boosting prices of virtually every consumer product transported by truck, train or ship.
What's to blame? A slumping dollar and tension in the Middle East were among the factors in February's 19 percent rise in crude oil prices, which are poised to rise above $103.76 a barrel. That's the price many analysts believe to be oil's all-time inflation-adjusted high, set 30 years ago during the Iranian hostage crisis.
Gas prices last week rose 0.3 cent to a national average of $3.164 oer gallon, edging closer to last May's record of $3.227 per gallon, according to AAA and the Oil Price Information Service.
Gas and diesel prices are following light, sweet crude oil, which spiked to a new record of $103.05 on Feb. 29, before falling 75 cents to settle at $101.84 per barrel on the New York Mercantile Exchange.
For state-by-state diesel prices, updated daily, click here.
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