Diesel Prices Rise for First Time in Months
January 12, 2009
After months of weekly declines, the average price of a gallon of diesel fuel rose 2.3 cents this past week, according to weekly figures from the U.S. Energy Information Administration.
EIA's weekly report shows an average price of $2.327 nationwide, with the highest prices still in the New England region at $2.621 and the lowest in the Rocky Mountain region at $2.235.
With the exception of a hundredth-cent increase in late September, the price of retail diesel has fallen every week since in hit a record high of $4.764 in mid-July of last year.
Oil prices, however, continued to fall despite OPEC production cuts. According to Bloomberg, crude oil for February delivery closed at $37.59 a barrel on the New York Mercantile Exchange Monday, down 59 percent from a year ago.