California Fuel Price Leaps
A 4-cents-per-gallon leap in the price of diesel fuel in California led a nationwide increase of 0.3 cent.
Analysts attributed the sharp rise in California to agricultural demand and refinery problems, but they said predictions of a mild winter – contrary to earlier forecasts – led to confusion in the markets that set the price of fuel.
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The national average stood at $1.229 on Nov. 1, according to the Energy Information Administration, up from $1.226 the previous week.
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The price of diesel has experienced a wild ride during 1999, falling to a historic low of just over 95 cents a gallon in February, then rising to a high of $1.234 on October 4.
