April 16, 2008
Diesel about to hit $4 a gallon in Nashville
BY GANNETT TENNESSEE
Average diesel prices were flirting with the $4 a gallon mark in Nashville this morning.The latest
AAA fuel price survey shows diesel selling for $3.995 a gallon at truck stops and gas stations here.Truckers, particularly those who own independent rigs, have said soaring fuel prices make it difficult to continue operations.
Diesel is at an all-time high in Nashville and nationally. The national average price for diesel is $4.13 a gallon today, up 40 percent from a year ago.Average gasoline prices also continue to increase, hitting record highs of $3.40 a gallon today nationally and $3.265 a gallon at the pumps in Nashville.
Rising fuel prices here come as oil prices surged to record highs on world markets as the weakening U.S. dollar drives up investments in commodities.Light, sweet crude for May delivery rose as high as $114.53 a barrel in electronic trading on the New York Mercantile Exchange on Tuesday.
Analysts said growing investor demand for commodities — which have performed better than other financial instruments — serve to prop up prices.
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