www.zerohedge.com BY TYLER DURDEN
By John Kingston of FreightWaves
The benchmark Department of Energy/Energy Information Administration retail diesel weekly average price rose 11.4 cents Monday, but it is regional differences that are particularly notable.
The latest price is the second consecutive week a new record has been established. Coming in at $5.623 a gallon, the average price of retail diesel is now roughly $2 more than where it started the year.
But the week also produced big moves in the differential between East Coast diesel prices and the rest of the country. East Coast prices on average rose 20.6 cents on the week, while New England was up 23.8 cents, and what the EIA calls the Central Atlantic was up the same amount. The Lower Atlantic price, which would include prices from cities that are serviced with diesel supplies off Colonial Pipeline, rather than the supply-squeezed New York Harbor, was up just 17.9 cents.
Average East Coast prices are now 19.2 cents more than the national average. East Coast prices were less than the national average as recently as mid-January, and for all of 2021, averaged 1.5 cents less than the national average. Two weeks ago, the gap was 4.9 cents.
