Diesel prices rise only slightly

September 17, 2012

Once again this week, the price of diesel per gallon has gone up only marginally over last week. Prices rose only 0.3 cents per gallon on average to $4.14, which is an increase of approximately 30 cents over prices last year.

The West Coast, typically the site of the nation's highest fuel prices, experienced a slight decline in diesel prices this week as well. Prices there fell an average 2.4 cents per gallon to land at $4.40.

Gasoline prices also saw an increase this week. The national average price for a gallon of gasoline rose 3 cents to $3.88.

Wall Street overall saw a rapid drop in oil prices on Monday. In merely a few minutes' time, Brent crude oil futures prices dropped $5 from $115.20 per barrel to $111.60.

Many attribute the fast selloff to high-frequency computer trading program.

U.S. crude oil futures for October also fell on Monday, by $2.38 per barrel to $96.62.