Maxxed Out: Diesel Hits $9.99/gal At Some California Gas Stations

The useful part

prices for diesel fuel surge to all-time highs, some California pumps literally can't price their diesel any higher—maxing out the display at $9.999 per gallon. Fuel-tracking firm GasBuddy reported Thursday that a small handful of California fueling stations hiked their retail diesel up to the maximum display pricing as the state's overall diesel average hit $7.91 per gallon. GasBuddy said it had confirmed that the $9.999 price was on displays at pumps in the San Diego suburb of Serra Mesa on Wednesday, and that it was investigating reports in other locations.

How it works

• Patrick De Haan, head of petroleum analysis at GasBuddy, cautioned that some pumps could simply be out of fuel.
• He noted that it is practice for some fueling stations to list "$9.999" to warn drivers away when diesel has run dry temporarily.
• What is clear is that several stations in California are pricing well above $9 per gallon.
• average for diesel surpassed $6 a gallon this week for the first time ever.
• De Haan said the national diesel average could realistically rise to $7 per gallon in the weeks ahead.

Details worth keeping

"There are really no signs of any improvement," he told Fortune. We're headed in the wrong direction." read more