Diesel prices followed soaring oil prices into record territory for the week ending March 21. The national average retail price of a gallon of diesel now stands at $2.244, five cents higher than the previous week and more than 3 cents higher than the previous record.
Oil prices led the charge to higher territory, closing more than $56 a barrel in trading on March 18. Diesel prices, which are now more than 60 cents higher than they were a year ago, followed the surge in oil prices and set records in most regions except the East Coast. In California, truckers paid close to $2.50 a gallon, a record for the West Coast.
Little seems to affect the upward spiral of petroleum prices. Even a production increase by the Organization of Petroleum Exporting Countries this past week did nothing to quell the increases. Gasoline prices are also in record territory, meaning owner-operators are getting hit at home as well as on the road.
For the week, diesel prices were cheapest in the Gulf Coast region, finishing up nearly six cents to $2.18.
Analysts say petroleum prices are expected to increase leading up to Memorial Day, the traditional beginning of the summer driving season.
For state-by-state diesel prices, updated daily, visit http://www.etrucker.com/apps/promiles/fuelprices.asp.