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Gasoline, diesel prices leap toward records

The price of diesel fuel hit a record Friday — and gasoline prices are leaping so fast they could set records this week, according to USA Today.

Rocketing retail fuel prices are the result of the week's $100-a-barrel crude oil prices and tight supplies as refineries switch to producing costlier summer-blend, clean-air gasoline that's required by federal regulations.

The nationwide average price for diesel Friday was a record $3.541 per gallon, according to data collected daily at more than 85,000 fuel stations by the Oil Price Information Service (OPIS) and published by travel organization AAA.

The average for regular-grade gasoline Friday was $3.115, up 2.9 cents overnight and 6.2 cents in two days.

Posted by Peter C. T. Elsworth  at 9:59 AM to Gas prices | Permalink

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