April 20, 2008

Diesel Prices Surpass $4 Mark

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WASHINGTON, D.C. --- The U.S. average price for diesel shot up 10.4 cents to reach $4.059 per gallon, surpassing $4 per gallon for the first time in history, the Energy Department reported April 16. 

The average price was up $1.182 over the price last year, according to the department's Energy Information Administration (EIA).

Diesel prices increased sharply in all regions of the country. The average diesel price for the East Coast jumped 11.2 cents to $4.117 per gallon. In the Midwest, the price increased 9.6 cents to $4.013 per gallon.

The price in the Gulf Coast shot up 10.6 cents to reach $4 even, the lowest price of any region. The increase in the Rocky Mountain region of 6.5 cents was the smallest increase of any region. The price there of $4.039 per gallon was $1.058 higher than a year earlier, the EIA reported.

On the West Coast, the average diesel price moved up 12.4 cents to $4.176 per gallon. That's $1.220 above the price last year. The average price in California shot up 11.6 cents to reach $4.234 per gallon.

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