Fuel Smarts

Diesel Cost Moves Higher After Seven Weekly Declines

June 23, 2014

By Evan Lockridge

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On-highway diesel prices. Credit: U.S. DOE
On-highway diesel prices. Credit: U.S. DOE
The average cost of on-highway diesel has moved higher after falling for seven straight weeks.

Trucking's main fuel is up 3.7 cents from last week at $3.919 per gallon. Compared to a year ago it is 8.1 cents higher.

Prices increased in all sections of the country, with the smallest being in New England, 1.4 cent, for an average of $4.102, the highest priced part of the U.S. except for California, to a much as 7 cents in the West Coast region, minus California, for an average of $3.973. All sections are also higher than their year-ago averages.

The lowest priced part of the country is the Gulf Coast at $3.813, where prices gained 4.3 cents from last week.

The average cost of regular grade gasoline also increased, picking up 1.8 cent per gallon from last week, hitting $3.704. Compared to the same time a year ago it is 12.7 cents more.

Regular gasoline prices. Credit: U.S. DOE
Regular gasoline prices. Credit: U.S. DOE

Prices moved higher in all parts of the country except the Midwest, where it fell 2.1 cents from last week, to an average of $3.693. They range from a low of $3.494 in the Gulf Coast region, up 6.6 cents, to a high of $4.011 in the West Coast region, up 1.2 cent.

The Rocky Mountain region is the only part where the average price is less than the same time a year ago, down 6.4 cents, at $3.606.

This happened as the price of crude oil in New York trading on Monday setting at $106.17 per barrel, down 66 cents for the day and slightly lower than a week ago. Part of last week prices were past the $107 threshold, hitting a nine-month high, while the price of crude overseas hit $114 per barrel.

Oil prices have moved higher due to concerns that oil production in Iraq could be affected by ongoing violence in the country, but so far it remains untouched. 

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