Diesel up 4.9 cents to reach highest price since May

Diesel was $2.801 per gallon this time last year. (The Trucker: BARB KAMPBELL)

The Trucker Staff

11/8/2010

WASHINGTON — The weekly retail on-highway diesel price rose 4.9 cents a gallon today after remaining flat last week, according to the Energy Information Administration. The price of $3.116 per gallon today was 31.5 cents higher than this week last year and on May 10 of this year the price was $3.127 per gallon.

Every region and California topped the $3 a gallon mark this week and all were up in price from last week.

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California was the priciest at $3.279 a gallon, followed closely by the West Coast region at $3.273 per gallon.

The least expensive diesel could be found in the Gulf Coast region where it was $3.030 per gallon, followed next by the Lower Atlantic at $3.061 a gallon.

Retail gas pump prices are heading back toward their high for the year as Americans map out their plans for Thanksgiving, according to The Associated Press.

Gasoline demand isn't driving up prices, like it does when the summer driving season begins. Instead, investors are betting that oil prices will rise as the Federal Reserve's attempt to stimulate the U.S. economy by purchasing $600 billion in bonds gets into full swing.

The national average for a gallon of unleaded regular gasoline was $2.854 Monday, according to AAA, Wright Express and Oil Price Information Service. That's up about a nickel from a week ago and closing in on the high of $2.92 hit in early May. Gas was selling for around $2.68 on Labor Day. A three week comparison of diesel prices with charts is available here.

Barb Kampbell of The Trucker staff can be reached for comment at barbkampbell@thetrucker.com.

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