Diesel Inches Higher as Gas Skyrockets
Surging gasoline prices are likely to thwart hopes that lower demand for heating oil will bring speedy relief in the cost of diesel fuel, as refiners move to maximize profits by producing more gasoline.
While the national average price of diesel edged up a half cent as of Feb. 28 after holding steady for two weeks, gasoline in the Central Atlantic region has jumped more than 5.3 cents a gallon for regular since Feb. 7 — and more increases are predicted.
“I’ve heard predictions as high as $2 a gallon, and I wouldn’t be surprised to see $2.50 in some areas,” said Tom Kloza, editorial director of the Oil Price Information Service.
Despite news reports late this week that the Organization of the Petroleum Exporting Countries plans to increase production in April, current short supplies are expected to push prices up for both gasoline and diesel fuel in the near term.
 | Fuel Prices | |||
| Week of Feb. 28: | ||||
| source | price | change | ||
| DOE | 146.1 | +0.5 | ||
| Comdata* | 143.1 | -0.3 | ||
| OPIS self-serve* | 144.2 | -0.2 | ||
| OPIS wholesale* | 88.9 | +0.9 | ||
| *Comdata and OPIS figures are for the week of Feb. 19. Click here for more fuel prices. | ||||
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