Diesel Prices Rise, Crude Falls

March 30, 2009

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The average price of diesel fuel nationwide jumped 13.1 cents last week, according to Monday's report from the U.S. Energy Information Administration.

That's the second week in a row of increases. The highest prices continue to be in the New England region at $2.424, but that region also saw the smallest increase this week, only 2.1 cents. The lowest average price was in the Rocky Mountain region at $2.146, where prices rose 11 cents.

The national average is still $1.743 less than it was a year ago.

Meanwhile, crude oil prices fell below $49 Monday, settling at $48.41 on the New York Mercantile Exchange. Oil prices this month had risen this month from about $40 per barrel to more than $50, but energy market analysts said the rally was not backed by the fundamentals. Crude oil inventories continue to rise, despite OPEC's efforts to cut production, and the global economy still is in the doldrums, keeping demand down.

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