After several weeks of steady decline, on-highway diesel prices experienced a modest rise last week, the first in six weeks. The national average is up 1.4 cents to $3.954.
The diesel gain was only the second in the past two months. California has the most expensive prices at $4.245; the Gulf Coast was the cheapest at $3.896. Increases were not uniform, as New England and the Rocky Mountain region saw declines of 1.8 and 2.7 cents respectively.
Crude oil, which fell below the $100 per barrel mark last week, continued to decline. Crude oil for July delivery declined $1.99, or 2 percent, to settle at $97.30 a barrel on the New York Mercantile Exchange.
The falling price is due at least in part to fears of a slow-down in the economic recovery, or a "double-dip" recession, as it is known. Adding to those fears is the recent announcement that Saudi Arabia will increase oil production in July.
The diesel gain was only the second in the past two months. California has the most expensive prices at $4.245; the Gulf Coast was the cheapest at $3.896. Increases were not uniform, as New England and the Rocky Mountain region saw declines of 1.8 and 2.7 cents respectively.
Crude oil, which fell below the $100 per barrel mark last week, continued to decline. Crude oil for July delivery declined $1.99, or 2 percent, to settle at $97.30 a barrel on the New York Mercantile Exchange.
The falling price is due at least in part to fears of a slow-down in the economic recovery, or a "double-dip" recession, as it is known. Adding to those fears is the recent announcement that Saudi Arabia will increase oil production in July.
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