Today’s fuel price musings - National records for both gas and diesel

April 10th, 2008 at 11:12am Thomas V. Bona

Records fall on both sides. A couple key takeaways from the AP article:

Gasoline prices normally rise during the spring as people travel more. However, the record pump prices have also been supported by high crude prices as shrinking profit margins cause refiners to pull back on production.

and

United Parcel Service, a major shipping company, reduced its first-quarter earnings predictions because of the high price of fuel.

More on UPS later today, but for now, here’s the damage (Data courtesy of AAA’s fuelgaugereport.com):

Gasoline: Rockford dropped two cents to $3.43 a gallon today, perhaps just delaying a record-setting price. The state average increased a cent to $3.47 today, five cents from its record. Rockford maintains the third-highest prices in the state, while Illinois has the sixth-highest gas prices in the country. The national average jumped another cent and then some, hitting a record $3.36 a gallon.

Diesel: Rockford jumped four cents to $4.12 a gallon today and has risen 10 cents this week. The state average increased a fraction of a cent today and remains at $4.14 a gallon, less than two cents shy of its record. We still have the second-highest diesel prices in the state now, behind only Chicago (which stays at $4.25). The nation jumped more than a cent to a record $4.05 a gallon. Illinois has the 14th-highest prices in the country.

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