Diesel Prices Inch Back up Over $4
November 26, 2012
The price for a gallon of diesel once again rose above $4, with an average 5.8-cent increase at the pump for a national average retail price of $4.03, according to the weekly fuel update from the Energy Information Administration.
It was the first increase in six weeks. The national average price is currently 1.8% or 7 cents
higher than at this time last year.
The highest diesel prices are on the East Coast, specifically in the New England and Central Atlantic regions, where diesel prices rose to $4.20 per gallon. Diesel prices continue to remain below the $4 mark in the Gulf Coast region, where prices are $3.90 per gallon.
The largest jump in price for diesel fuel was seen in the Midwest, where the price rose 11.4 cents this week to $4.02.
Gasoline prices also saw a slight increase in price this past week. Over the holiday weekend, prices at the pump went up on average less than one cent. The Midwest region saw the largest increase in gasoline prices with a 4.3-cent jump to $3.39 per gallon.
Prices for gasoline fell in some regions, including on the West Coast, where the gasoline are the highest on average. Although prices in the region dropped 3.9 cents, the price per gallon is still $3.67 per gallon.
As peace holds in the Israel-Hamas tensions, the price for a barrel of oil fell below $88 on Monday.
According to an Associated Press report, oil prices fell 54 cents to $87.74 due to the holding truce in the Middle East and concern over negotiations over Greece's bailout.