Average Diesel Price Turns Higher Over Weekly Oil Gain
August 19, 2013
UPDATED--Just as soon at it looked like diesel was starting to trend lower it has done an about-face.
The average U.S. price has increased 0.4 cents per gallon over the past week, registering $3.90 per gallon, following two straight weeks of declines, according to the U.S. Energy Department.
Despite the hike, the current price is 12.6 cents per gallon lower than the same time a year ago.
Prices range between a low of $3.822 in the Gulf Coast region, down 0.2 cents over the past week, to a high of $4.057 in the West Coast region, a pickup of 1.2 cents during the same time, which was also the second largest increase in the country.
The largest hike was 1.4 cents per gallon in the Lower Atlantic sub-region of the East Coast, averaging $3.848.
In contrast, the average cost of gasoline has fallen for the fourth consecutive week, losing 1.1 cents over the past week, for $3.55 per gallon.
The current price is 19.4 cents per gallon lower than the same time a year ago.
Prior to the recent string of declines, gasoline averaged $3.682 on July 22.
Gasoline ranges between a low of $3.373, down 1.5 cents over the past week in the Gulf Coast region, to a high of $3.778 in the West Coast region, a decline of 6.2 cents during the same time.
The only region where gasoline increased over the past week is the Midwest, where it added 2.3 cents, for an average of $3.501.
The fuel numbers came as the price of oil in New York trading on Monday closed down 36 cents for the day, setting at $107.10 per barrel. This is nearly a dollar higher compared to a week ago.
Mounting turmoil in Egypt, including the recent massacre of more than 800 of its citizens during a protest against the government, is much of the reason for the increase in the price of crude, which is up about 10% from a year ago.
Update adds gasoline prices.