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Diesel leads pump prices higher
Hits another high-water mark; AAA report says damaged refineries still affecting fuel prices.
October 4, 2005: 7:35 AM EDT

NEW YORK (CNN/Money) - Prices at the pump edged upwards Tuesday with diesel prices setting another record as some refineries located along the Gulf Coast remain shuttered following hurricanes Katrina and Rita.

The travel club AAA reported Tuesday that the average nationwide price for a gallon of diesel climbed a little more than two cents to $3.152 a gallon from the previous record-setting price of $3.129 reached Monday.

The Energy Information Administration (EIA) reported similar data Monday, noting that the average price truckers paid for diesel fuel soared 34.6 cents over the last week to a record $3.14 a gallon.

The latest average weekly diesel price is up $1.09 a gallon from a year earlier, according to the EIA's survey of service stations.

Regular unleaded gasoline experienced more modest gains as the nationwide average price increased by less than a penny to $2.941 a gallon from $2.938 Monday, according to the travel club AAA's daily fuel report.

Gas prices peaked on Labor Day in the wake of Hurricane Katrina and have seesawed since, falling as low as $2.755 a gallon Sept. 22. Pump prices have trended upward since then.

A year ago, the average cost of a gallon of regular unleaded gasoline was $1.926, AAA reported.

After Hurricane Rita slammed into the Texas-Louisiana Gulf Coast, many Texas refineries went off line, sparking fears of gasoline supply shortages.

As of Monday, a dozen refineries remain closed following the storms, according to Reuters, halting the flow of 1.3 million barrels of gasoline.

Energy Secretary Samuel Bodman said in a news report published Monday that consumers may see at least six months of high gasoline and heating fuel prices until energy production recovers from hurricane damage.

The Bush administration rolled out a conservation campaign that will encourage consumers and businesses to trim energy use as well as gasoline consumption.

Gasoline demand is down 3 percent compared with the same time last year, according to the EIA.

Midgrade and premium gasoline also rose slightly across the country Tuesday. The nationwide average price at the pump for midgrade gasoline rose to $3.122 from $3.117 a gallon Monday. Premium gasoline also climbed by less than a penny to $3.235 a gallon from $3.231, AAA reported.

AAA's report Monday revealed that Hawaii still has the most expensive gas in the country, with the average cost of regular unleaded at $3.248. Gas in Alaska was the cheapest, with regular unleaded at $2.775, on average.

-- from staff and wire reports

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Tell us your story: Have rising gas prices forced you to cut back spending? Have you suffered long lines when filling up? We'd like to hear your story for an upcoming feature. E-mail us at gasprices@cnn.com.

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What is President Bush saying about your heating bills this winter? Click here.

Click here for CNN/Money's special report 'Oil Crunch 2005.'  Top of page

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