Diesel prices remain flat second straight week

April 14, 2009
Diesel prices seem to have settled over the past two weeks, with the average price for the week of April 13 climbing a negligible 0.1 cent to $2.229/gal.

Diesel prices seem to have settled over the past two weeks, with the average price for the week of April 13 climbing a negligible 0.1 cent to $2.229/gal., according to the Energy Information Administration (EIA). The previous week it sat at $2.228.

Only three regions in the country saw a price increase, the Rocky Mountain area rose from $2.21 to $2.25/gal. and the West Coast jumped two cents, from $2.31 to $2.33. California increased slightly as well, moving up to $2.35/gal. from $2.33. The highest region remained New England, with prices holding steady at $2.42/gal.

Last year, the average diesel price was $4.05/gal.

Over the past two weeks, according to EIA, the average price of diesel has increased just less than a penny. This follows the previous two weeks, which saw the price climb from $2.01/gal. March 16 to $2.22/gal. March 30.

Crude oil for May delivery rose more than 2% this morning to $51.04 a barrel on the New York Mercantile Exchange, according to Bloomberg.com. That offset some of a 4.1% decline on Monday following an International Energy Agency forecast that oil demand would slip 2.8% this year.

According to a Bloomberg story, Mary Ann Bartels, a chief U.S. market analyst at Merrill Lynch, believes crude oil will rise above $70 a barrel later this year.

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