Yikes...the price of diesel is going up

I saw this article about the continued increase of diesel prices.

Diesel prices keep going up, up and away 
From Trucker News
by Barbara Kampbell

On-highway diesel prices have risen 52.2 cents a gallon since this time last year.

12/20/2010

WASHINGTON — "Up, Up and Away" is a 1967 song written by Jimmy Webb and recorded by The 5th Dimension. The lyrics talk about taking a trip in a beautiful balloon.
 
Something else is going up, up and away these days and there's nothing beautiful about it — diesel prices.
 Image via Wikipedia
The average weekly retail on-highway diesel prices jumped another 1.7 cents to $3.248 for the week ending Dec. 20, according to the Energy Information Administration of the Department of Energy.

That means a staggering increase of 52.2 cents since the same time last year.

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From: Transport Topics

Oil Slips After Topping $90 a Barrel

Oil declined Wednesday a day after topping $90 a barrel, following a Department of Energy report that showed higher gasoline and diesel inventories, Bloomberg reported.Image via Wikipedia

Crude futures fell more than $1 to below $88 a barrel on the New York Mercantile Exchange, after topping $90 in intraday trading on Tuesday, the highest level since October 2008.

Tuesday’s $88.69 per-barrel Nymex closing price was the highest since October 2008, when oil was falling from its record high levels of that summer.

Gasoline inventories rose 3.8 million barrels for the week ended Saturday, DOE reported in its weekly survey. That was in contrast to the 300,000-barrel decline forecast by economists, Bloomberg reported.
Distillates, which include diesel and heating oil, rose 2.15 million barrels, in contrast to the 900,000-barrel decline forecast, Bloomberg said.

Oil supplies fell by 3.8 million barrels, more than the 1.4 million-barrel drop predicted, Bloomberg reported.
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