EL PASO, Texas (KFOX14\/CBS4) \u2014 Diesel prices in El Paso have surged to record highs as crude oil prices continue to climb, squeezing trucking companies that rely on fuel to keep goods moving and raising concerns that higher transportation costs could soon show up on store shelves and grocery bills.<\/p>\n
Carlos Vargas, owner of EDC Transportation, said his company has been scrambling to absorb the rising costs.<\/p>\n
\u201cIt’s definitely the highest we’ve see, we started noticing that about a month ago. Our weekly fuel bill jumped $50,00, it was a big difference seeing that $50,000 jump,\u201d Vargas said.<\/p>\n
Vargas said he is looking to invest in more fuel-efficient equipment as diesel prices keep trending upward, a shift he said could ultimately affect consumers.<\/p>\n
RECOMMENDED: UTEP student turns to scooters, carpools as El Paso gas averages $4.42 a gallon<\/a><\/p>\n The average diesel price last year was $3.36. This year, it has nearly doubled, reaching $6.20 in El Paso. That is higher than current averages in Houston, Dallas and San Antonio, which are all below $6.<\/p>\n UTEP economics professor Tom Fullerton said the price of West Texas Intermediate \u2014 the crude oil produced in the region \u2014 directly affects what drivers in El Paso pay at the pump. Fullerton estimates that for every $1 increase in the price of a barrel of West Texas Intermediate oil, the price of fuel in El Paso rises by 3 cents.<\/p>\n \u201cRight now the West Texas Intermediate price is $105 per barrel. Until that goes down substantially, Diesel prices will probably remain above $6 per gallon,\u201d Fullerton said.<\/p>\n