In The News

Fuel level, oil prices up following strike on Libya

While prices for diesel and gasoline have finally leveled off after 15 weeks of increases, the long-term effects may not yet be known after the recent military action against Libya. Oil markets reacted Monday in New York by pushing the price of crude up more than a buck to $102.35.

For now, at least, diesel prices are somewhat level around the country with the national average right around $3.907 a gallon for the week ending Monday, March 21. The national average was 96.1 cents higher per gallon than it was a year ago.

The U.S. Energy Information Administration reported a 1.5 cent decrease in the Central Atlantic region while New England, Rocky Mountain and West Coast regions posted gains.

California leads the way by state, according to ProMiles, with an average Monday of $4.199 per gallon. That’s about 1.13 more than it was a year ago.

ProMiles showed Monday’s national average at $3.925 per gallon, with a dozen states averaging above $4 for the second straight week.

Crude oil on the New York Mercantile Exchange was up about $1.30 per barrel to $102.35 during midday trading on Monday. Texas crude, another benchmark for analysts, was also up about $1.30 a barrel. Analysts quoted by Reuters and The Associated Press said the happenings in Libya have led to an uncertain market – hence the higher oil prices.

Here are the weekly price averages for diesel as reported by the EIA:

U.S. – $3.907, down 0. 1 cents
East Coast – $3.938, down 0.8 cents
New England – $4.087, up 0.6 cents
Central Atlantic – $4.046, down 1.5 cents
Lower Atlantic – $3.878, down 0.7 cents
Midwest – $3.855, down 0.4 cents
Gulf Coast – $3.841, down 0.1 cents
Rocky Mountain – $3.925, up 3.7 cents
West Coast – $4.104, up 1.3 cents
California – $4.199, up 2.9 cents

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