Diesel hits all-time high

Feb. 18, 2003
The average price at the pump for a gallon of diesel fuel has reached $1.704, the highest ever recorded by the U.S. Department of Energy. The department said the highest previously recorded by its Energy Information Administration was $1.67, back on October 16, 2000. The price recorded last week was $1.662, 4.2-cents less than this week. Tom Kloza, chief oil analyst at Oil Price Information Service,

The average price at the pump for a gallon of diesel fuel has reached $1.704, the highest ever recorded by the U.S. Department of Energy.

The department said the highest previously recorded by its Energy Information Administration was $1.67, back on October 16, 2000. The price recorded last week was $1.662, 4.2-cents less than this week.

Tom Kloza, chief oil analyst at Oil Price Information Service, said on the company's website that the U.S. could experience weekly fuel-price swings of 10-15 cents per gal. over the next few months.

Price spikes have been attributed to a general work stoppage in Venezuela and because of the threat of a war in Iraq.

Spikes this high have not been seen since the Arab Oil Embargo of 1973-4, Kloza said.

Drivers in New England are paying the highest price at $1.885, while drivers in the Central Atlantic are paying $1.851.

At $1.638, the Rocky Mountain region is paying the least.

American Trucking Assns. president & CEO Bill Graves wrote to President George Bush Friday expressing concern over rapidly rising diesel prices and suggesting a release from the Strategic Petroleum Reserve "may be the best option to avert a potential crisis in the domestic refinery system."

About the Author

Tim Parry

Tim Parry is a former FleetOwner editor. 

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

The Road Ahead: 2025 Trucking and Fleet Insights

Discover how fleet operators are impacted by challenges like driver onboarding delays and complex compliance, and the critical need for technology to boost efficiency and cut ...

Driving Growth: How to Manage More Freight

Ready to grow your trucking business? Whether you have 25 or 200 trucks, this guide offers practical tips and success stories to help you expand with confidence. Discover how ...

How to Maximize Fleet Management with Vehicle Bypass

Join us on February 18th to learn how truck weigh station bypass systems boost fleet performance and driver satisfaction.

Optimizing your fleet safety program using AI

Learn how AI supports fleet safety programs with tools for compliance monitoring, driver coaching and incident analysis to reduce risks and improve efficiency.