Diesel prices climb for sixth straight week

By Jami Jones, Land Line managing editor | Monday, August 13, 2012

The pump price of on-road diesel has increased more than 30 cents per gallon in six weeks thanks to the latest increase coming in at a whopping 11.5 cents per gallon as reported by the Energy Information Administration for the week ending Aug. 13.

Since the July 2 report, national on-highway diesel prices have marched upward. However, this was the first double-digit increase, sending the national average to $3.965 per gallon.

The 11.5-cent-per-gallon spike pushed New England, the Central Atlantic and the West Coast minus California regions over the $4 per gallon mark. Previously, only California and the entire West Coast region (which includes California prices in its average) were averaging pump prices above $4.

The increase also sent this week’s average diesel prices soaring 13 cents above 2011’s national average for the same week of August, which was reported at $3.865 per gallon.

The increase sends the national average 12.5 cents per gallon higher than the annual average cost of diesel fuel predicted by the EIA only last week. In its short-term energy outlook, the agency predicted that diesel would average $3.84 per gallon for 2012.

With the latest increases, the hardest hit will be truckers fueling up on the West Coast with the entire West Coast region, both including and excluding California, reporting prices up nearly 20 cents per gallon. The New England region reported the smallest increase at 6.5 cents per gallon.

With all EIA regions reporting increases, here is the breakdown from the Aug. 13 report:

  • U.S. – $3.965, up 11.5 cents per gallon
  • East Coast – $3.952, up 8.3 cents per gallon
  • New England – $4.011, up 6.5 cents per gallon
  • Central Atlantic – $ 4.004, up 7 cents per gallon
  • Lower Atlantic – $ 3.901, up 9.5 cents per gallon
  • Midwest – $ 3.968, up 11.7 cents per gallon
  • Gulf Coast – $3.856, up 10.4 cents per gallon
  • Rocky Mountain – $ 3.958, up 14.5 cents per gallon
  • West Coast – $ 4.152, up 19.3 cents per gallon
  • West Coast less California – $4.078, up 19.5 cents per gallon
  • California – $4.215, up 19.2 cents per gallon
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