Diesel Up 2.2 Cents This Week

August 3, 2009

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The price of diesel inched up 2.2 cents per gallon this week, the second consecutive weekly increase
, according to the Department of Energy.

Diesel averaged out to $2.55 across the U.S. this week, up from last week's $2.528. Last week marked the first jump in prices since it started slipping at the end of June. The price fell 12 cents from June 22, before gaining 3.2 cents last week. Prior to the declines, diesel had climbed 43.1 cents from May 4 through June 22.

The average price is still $1.952 below the price during the same week last year, when it reached $4.50. Californians had the highest prices this week at $2.763, followed by the Central Atlantic and West Coast regions, with $2.671 and $2.643, respectively. Meanwhile, the Gulf Coast and Midwest experienced the lowest average prices, at $2.513 and $2.52, respectively.

Gasoline prices climbed 5.4 cents this week to $2.557. Last week, the fuel gained 4 cents after experiencing a similar month-long decline. Last year during this time, gas prices were averaging $3.88.

Crude oil jumped more than 3 percent, landing at $71.58 a barrel Monday, on hopes of an economic recovery, Reuters reported. Crude is at its highest price since June 12.

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