FuelClub Discount

Gas costs around $3.25 in the Twin Cities which is about a dime shy of the record, but it’s nothing compared to the price of diesel. So why is diesel so pumped up?

It’s hard to complain about filling up a 20-gallon tank after watching Randy pump 170 gallons into his truck at $4.05 a pop.

“I’m paying almost $700 for a tank of fuel. I was glad to fill up for $350 a year ago,” said Randy.

Diesel used to be cheaper than regular unleaded. Now, it can be almost a dollar more a gallon.

David Morris is the vice president of the Institute for Local Self-Reliance, and an expert on energy said diesel prices are soaring.

“Diesel is what gets the goods to market; diesel is what runs the factories. Gasoline gets us to the store work. But basically the economy runs on diesel in the United States,” said Morris.
(more…)

A U.S. recession in the first half of 2008 will cause the first drop in summer gasoline demand since 1991, the head of the Energy Department’s Energy Information Administration said Tuesday.

He estimated average gasoline prices at $3.60 a gallon this summer.

The U.S. projected an 85,000-barrel-per-day decline in gasoline demand for 2008, caused by higher gasoline and oil prices and the economic decline, said Guy Caruso, administrator of the Energy Information Administration.
(more…)