Fuel Smarts

Diesel Prices Still on the Rise

August 20, 2012

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Truckers are continuing to dig a little deeper into their wallets as diesel prices continue to climb, according to the U.S. Department of Energy.

According to the Energy Information Administration's weekly report, the national average for a gallon of diesel fuel jumped 6 cents this week, which is a 22-cent increase over last year's prices.
The average price for a gallon of diesel reached $4.03.

Gasoline prices continued to increase as well, up nationally an average 2 cents per gallon to $3.74. This is an increase of 16 cents over last year's national average.

The largest increases for diesel were again seen on the West Coast, with an average increase of more than 10 cents per gallon this week. Gas prices have reached an average of $4.25 per gallon in the region.

In related news, crude oil futures dipped lower on Monday. Brent crude oil dropped to $113.70 a barrel, a decrease of 1 cent over last week's update. Meanwhile on the New York Mercantile Exchange, light, sweet crude fell to $95.97 a barrel.

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