Fuel Smarts

Diesel prices rise only slightly

September 17, 2012

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Once again this week, the price of diesel per gallon has gone up only marginally over last week. Prices rose only 0.3 cents per gallon on average to $4.14, which is an increase of approximately 30 cents over prices last year.

The West Coast, typically the site of the nation's highest fuel prices, experienced a slight decline in diesel prices this week as well. Prices there fell an average 2.4 cents per gallon to land at $4.40.

Gasoline prices also saw an increase this week. The national average price for a gallon of gasoline rose 3 cents to $3.88.

Wall Street overall saw a rapid drop in oil prices on Monday. In merely a few minutes' time, Brent crude oil futures prices dropped $5 from $115.20 per barrel to $111.60.

Many attribute the fast selloff to high-frequency computer trading program.

U.S. crude oil futures for October also fell on Monday, by $2.38 per barrel to $96.62.

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