El Paso Diesel Prices Hit Record Highs Amid Crude Oil Surge

Diesel prices in El Paso have reached record highs due to surging crude oil prices. The average diesel price has nearly doubled this year, reaching $6.20 per gallon, which is higher than current averages in Houston, Dallas, and San Antonio.

Carlos Vargas, owner of EDC Transportation, said his company's weekly fuel bill jumped by $50,000 due to the rising costs. He believes investing in more fuel-efficient equipment could be a solution, but it may ultimately affect consumers through higher transportation costs.

UTEP economics professor Tom Fullerton explained that the price of West Texas Intermediate crude oil directly affects diesel prices in El Paso. For every $1 increase in WTI, fuel prices rise by 3 cents, and with current WTI prices at $105 per barrel, diesel prices will likely remain above $6 per gallon.