In The News

Diesel price jumps 9 cents to $4.05

Analysts’ predictions that diesel prices could spike during the first part of 2012 are panning out. In just the past week, the national average price for on-highway diesel jumped 9 cents to $4.05 per gallon according to the U.S. Energy Information Administration on Monday, Feb. 27.

Prices on the West Coast and especially California shot up 15 to 17 cents a gallon during the past seven days. Most of the rest of the country experienced increases ranging from 6 to 10 cents for the week according to the EIA.

Following is a breakdown of the prices and increases for the week as listed by the EIA:

U.S. – $4.051, up 9.1 cents
East Coast – $4.134, up 8.1 cents
New England – $4.221, up 6 cents
Central Atlantic – $4.208, up 6.6 cents
Lower Atlantic – $4.063, 9.7 cents
Midwest – $3.914, up 6.6 cents
Gulf Coast – $3.992, up 10.6 cents
Rocky Mountain – $3.919, up 6.2 cents
West Coast – $4.326, up 16.2 cents
California – $4.410, up 15.2 cents

As Land Line reported Friday, analysts have foreseen the diesel price spike during the first part of the year but are not predicting that prices will break the record highs experienced in 2008.

ProMiles, which tracks daily price averages nationally and by state, reported its average at $4.056 per gallon, up nine-tenths of a cent overnight.

More than half of the individual states are now northward of $4, according to ProMiles. The cheapest diesel in the nation including taxes was Wyoming at $3.832.

Rhode Island’s average jumped 3 cents overnight to $4.449 per gallon, the highest in the nation for the day. Connecticut wasn’t far behind at $4.407.

Meanwhile, crude oil was trading at $107.64 in New York at midday, and that was down more than $2 from the opening bell.

www.LandLineMag.com