Diesel, Oil Prices Continue to Set Records

May 19, 2008

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The national average price for a gallon of diesel fuel is up to $4.497, according to figures released Monday by the U.S. Energy Information Administration.

That's 16.6 cents higher than a week ago and $1.694 more than a year ago. The American Trucking Associations notes in its weekly "Fuel Line" publication that diesel pump prices are up 34.4 percent from the start of the year and are 60.4 percent higher than during the corresponding week in 2007.

The highest average price was again in the Central Atlantic region at $4.682; prices were also over the $4.60 mark in New England, at $4.61. The lowest average price was in the Rocky Mountain region at $4.442, with the Gulf Coast close behind at $4.443.

Crude oil prices continued to set records, as well. Light, sweet crude for June delivery rose 76 cents to close at a new record of 127.05 dollars a barrel on the New York Mercantile Exchange Monday. ATA notes that the price of a barrel of crude oil has surged 31.6 percent so far this year and is up 94.5 percent from a year ago.

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