Diesel Prices Back Up After Month-long Fall

July 27, 2009

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Average national diesel prices were up 3.2 cents this week, the first jump since June 22, according to the Department of Energy.

The price of diesel has been slipping for the past month from its June 22 average of $2.616. Since then, the price had fallen 12 cents, before gaining 3.2 cents Monday and landing on $2.528. Prior to the declines, diesel had climbed 43.1 cents from May 4 through June 22.

Compared to the same week last year, the average price is still $2.075 lower. The Central Atlantic and West Coast regions experienced the highest prices this week, at $2.643 and $2.617, respectively. California's average diesel price landed at $2.72. The lowest diesel prices were found in the Gulf Coast and Midwest regions, at $2.493 and $2.50, respectively.

Meanwhile, the average price of gasoline increased 4 cents this week to $2.503, after a similar month-long decrease. Gas prices are down 36.7 percent from a year earlier.

Crude oil climbed 33 cents, or 0.48 percent higher this week on the New York Mercantile Exchange, according to Reuters. Its price settled at $68.38 a barrel for September delivery, the highest since July 1.

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