After slight dip, average diesel price shoots back up 18.2 cents to $4.33

| 5/12/2008

After last week’s slight drop in the cost for a gallon of diesel, the national average spiked back up – this time 18.2 cents – to put the average at $4.331 for a gallon of diesel, the U.S. Energy Information Administration reported on Monday, May 12.

This is an increase of more than $1.558 compared with the same week in 2007.

After a week in which eight of the nine EIA regions reported a small decrease in the cost of diesel, all are reporting increases more than 10 cents per gallon or more.

The Lower Atlantic and the Midwest regions are both reporting the highest increases of 18.9 cents a gallon, putting the average at $4.322 in the Lower Atlantic region and at $4.305 in the Midwest.

The Gulf Coast region is reporting an increase of 18.2 cents a gallon to put the price at $4.270, while the cost for fuel is up 17.8 cents a gallon in the East Coast region.

In the Central Atlantic region, the cost for diesel has jumped 17 cents to average $4.521 for a gallon of diesel – the second highest price reported in all of the regions for fuel.

The cost for a gallon of diesel ranks the highest in the California region – at $4.547 – which is an increase of 16.5 cents from last week, while the West Coast region is reporting an increase of 15.4 cents for this week to average $4.467 a gallon.

While the New England region is reporting a 12.6-cent increase to average $4.463 a gallon for fuel, the Rocky Mountain region, which was the only region to report an increase in the average cost for fuel last week, is reporting the lowest weekly increase of 12.1 cents this past week.