$4 Diesel a Reality

March 10, 2008

SHARING TOOLS        | Print Subscribe
Diesel prices hit another record last week, hitting the $4 mark in some parts of the country, while crude oil prices rose to nearly $108 a barrel.

The national average on-highway diesel price of a gallon of fuel was $3.819, according to the U.S. Energy Department's Energy Information Administration. That's up 16.1 cents from a week ago and $1.134 from a year ago. The highest average was in the Central Atlantic region at $3.989, with California close behind at $3.955 and New England at $3.938. The lowest prices were in the Rocky Mountain region at $3.732.
According to the AAA, soaring crude oil prices helped push the average price of a gallon of diesel fuel past $4 on Friday in San Luis Obispo, Calif., and within pennies of that mark in several other California markets. Prices of over $4 a gallon were also reported in some parts of central New York.
Light, sweet crude for April delivery closed at a record $107.90 a barrel on the New York Mercantile Exchange Monday, after hitting an intraday high of $108.21. The Wall Street Journal notes that crude oil futures have risen $20 in under two months, "largely on the weakness in the dollar, which makes commodities priced in the U.S. currency relatively cheap for buyers in other currencies."

Comment On This Story

Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.


We offer e-newsletters that deliver targeted news and information for the entire fleet industry.



The expert, Mark Betner from CITGO, will answer your questions

View All



The expert, Rence Oliphant from Hendrickson, will answer your questions

View All