Diesel Prices Shoot up Again

July 7, 2008

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After actually showing a decline for the month of June, diesel prices roared back with a vengeance last week to a new record high, with the national average retail price jumping more than 8 cents a gallon.

The national average reported by the U.S. Energy Information Administration rose to $4.727, an 8.2 cent increase from the previous week. Prices rose nearly 10 cents per gallon in the Lower Atlantic region, climbing 9.8 cents per gallon to $4.741. The highest average price, however, was reported in the Central Atlantic region at $4.887. Prices in California again climbed to an average over $5 per gallon. The lowest average price was found in the Midwest at $4.654.

This comes after the price of diesel dropped or remained the same for five weeks in a row, making June only the second month this year in which the average price dropped (January was the other.)

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