Diesel Moves Lower for 10th Straight Week, Oil & Gasoline Push Higher
May 06, 2013
The average U.S. cost of diesel has dropped for the 10th week in a row, down 0.6 cents from last week, coming in at $3.845 per gallon, according to new figures form the U.S. Energy Department.
Compared to the same time a year ago, diesel is 21.2 cents per gallon cheaper. Over the past 10 weeks the price is down nearly 31.5 cents.
Prices fell in most regions of the country, except in the Midwest, where prices increased 2.9 cents over the past week for an average of $3.868 per gallon. Prices range from a high of $3.986 per gallon in New England, down 0.7 cents from last week, to a low of $3.735 in the Gulf Coast Region, 2.2 cents lower than last week.
Other regional/sub-regional prices and changes:
- East Coast, made up of the New England, Central Atlantic and Lower Atlantic sub-regions, $3.863, down 2.3 cents.
- Central Atlantic, $3.911, down 2.3 cents.
- Lower Atlantic, $3.804, down 2.7 cents.
- Rocky Mountain, $3.804, down 0.6 cents.
- West Coast, $3.923, down 2.6 cents.
- West Coast, minus California, $3.83, down 0.3 cents.
- California, $4.001, down 4.6 cents.
In contrast, the average U.S. cost for gasoline increased for the first time in more than two months this week, adding 1.8 cents for $3.538 per gallon.
Compared to the same time a year ago, gasoline is 25.2 cents less on average. Prices increased in all regions except for the East Coast region, along with the Central Atlantic and Lower Atlantic sub-regions. They range between an average of $3.811 in the West Coast region and $3.299 in the Gulf Coast region.
Meantime, the price of oil is moving higher after flirting with the $90 per barrel level last week. Monday, it stood at $96.16 at the close of trading in New York, marking the third straight day of higher prices and its first settlement price above $96 in more than a month, on news of increased tensions between Israel and Syria.