Diesel Prices Back Up After A Month of Declines; Oil Stays Put

July 26, 2010

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Diesel rose 2 cents this week, breaking its month-long downward trend
, according to weekly figures released by the U.S. Department of Energy.

Prior to the 2-cent gain, diesel prices had fallen 6.2 cents since June 21, when diesel shot up 3.3 cents in one week. This week's average of $2.919 a gallon is 39.1 cents higher than the same week last year.

The West Coast and Central Atlantic regions saw the highest prices this week, at $3.06 and $3.02 a gallon, respectively. Meanwhile, the lowest averages were in the Gulf Coast and Lower Atlantic regions, averaging $2.875 and $2.88 a gallon, respectively.

Meanwhile, crude oil prices were static Monday, hovering just under $79 a barrel as U.S. home sales rose and Tropical Storm Bonnie missed the Gulf, avoiding any damage to oil refineries there, according to reports by Reuters. Oil settled at $78.98 a barrel Monday on the New York Mercantile Exchange.

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