Going up – diesel jumps another 2.4 cents nationwide

By Land Line staff | 5/20/2013

Diesel fuel prices increased for the second straight week by an average of 2.4 cents per gallon nationwide, according to data from the U.S. Department of Energy.

Prices had fallen for 10 consecutive weeks after hitting a five-year high of $4.159 per gallon on Feb. 25. The average cost this week is $3.89, roughly 6.6 cents below the price one year ago.

The U.S. Energy Information Administration reported increases in nine of the 10 regions of the country, with the largest increases coming in the West Coast regions. Only the New England region saw a dip in price, and even that decrease was only a modest four-tenth of one cent per gallon. California and the West Coast are the only regions in the country with an average price of more than $4, at $4.072 per gallon, and $4.008 per gallon respectively.

Following are the weekly average prices for on-highway diesel as reported by the EIA:

  • U.S. – $3.89, up 2.4 cents
  • East Coast – $3.871, up six-tenths of a cent
  • New England – $3.994, down four-tenths of a cent
  • Central Atlantic – $3.925, up 1.5 cents
  • Lower Atlantic – $3.809 up two-tenths of a cent
  • Midwest – $3.934, up 2.5 cents
  • Gulf Coast – $3.775, up 3.6 cents
  • Rocky Mountain – $3.848, up 2.6 cents
  • West Coast – $4.008, up 3.9 cents
  • California – $4.072, up 3 cents
  • West Coast less California – $3.932, up 4.9 cents

ProMiles, which surveys 9,400 fuel stops, reported the daily national average is at $3.884 cents on Monday, May 20.

Drivers in Connecticut are paying an average price of $4.271 per gallon, according to ProMiles, the highest average price in the Lower 48. Mississippi drivers are paying the lowest prices at $3.678 per gallon.

In other energy news, the price of light sweet crude oil remains above $90 per barrel, closing at $96.68 following midday trading Monday according to the New York Mercantile Exchange. Light sweet crude is the type most commonly associated with diesel production.

In Europe, the price of Brent crude was listed at $104.77, according to Bloomberg.

Copyright © OOIDA