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FUEL COST TROUBLES * USA - Oil hits new record; diesel averages more than $4 per gallon in 24 states
New York,NY,USA -Land Line Magazine, by Terry Scruton -April 11, 2008: -- The price of oil hit a new record high in trading on Wednesday, April 10, spiking above $112 dollars per barrel... It closed at around $110 dollars a barrel Wednesday and was trading close to $111 dollars per barrel on the New York Mercantile Exchange early Thursday... ProMiles also reported that 24 states are now posting average prices at or above the $4 dollar per gallon mark. The lowest price, incidentally, was in Oklahoma, at $3.83 per gallon...
* EIA predicts an average diesel price of $3.73 this summer
Washington,DC,USA -Land Line Magazine, By Clarissa Kell-Holland -April 11, 2008: -- The question on trucker’s mind these days is when will diesel fuel prices drop so it’s a little easier to breathe at the pumps as your earnings get sucked down the tank?... Huge numbers of truckers are running on razor-thin operating margins in order to keep their businesses afloat right now because of record-high diesel prices above the $4 mark and low freight rates... The U.S. Energy Information Administration’s Short-Term Energy and Summer Fuels Outlook, released on Tuesday, April 8, projects diesel prices to average around $3.73 this summer – up more than 88 cents from this past summer’s average of $2.85 per gallon... EIA predicts domestic crude oil prices will be about $103 per barrel this summer, which is $29 per barrel higher than average of $74 in 2007. For the year, the price is expected to average $101 per barrel in 2008, according to the agency...
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