After falling for 10 straight weeks, the average U.S. cost of diesel has done an about-face. Gasoline is higher for the second straight week but oil is slightly lower.

The U.S. Energy Department reports diesel is up 2.1 cents over the past week for a national average of $3.866 per gallon. Despite the increase, the cost is 13.8 cents per gallon lower than the same time a year ago. Prior to the recent string of declines, it hit $4.159 in February, a more than four-year high.

Prices increased in all regions of the country, except in the Central Atlantic region, where it barely moved lower. Averages range from a low of $3.739 in the Gulf Coast region to $3.995 in New England.

Gasoline continued its turnaround, increasing 6.5 cents per gallon over the past week, following a 1.8-cent hike last week, for a U.S. average of $3.603 per gallon. The increase is the biggest in three months.

Gasoline prices over the past week increased in every region of the country, ranging from $3.364 in the Gulf Coast states to $3.938 along the West Coast.

As for oil, it’s down about 50 cents over the past week in New York trading, registering $95.62 per barrel, though it was higher at times last week, hitting a five-week high. Monday it closed at its lowest level since May 2 due to strength in the dollar against foreign currencies and news Friday that OPEC has increased oil production to its highest level in five months.

About the author
Evan Lockridge

Evan Lockridge

Former Business Contributing Editor

Trucking journalist since 1990, in the news business since early ‘80s.

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