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Diesel, gasoline prices jump

February 4, 2013

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Both diesel and gasoline prices saw a significant increase this past week.

Diesel prices jumped an average of 9.5 cents per gallon across the nation to settle at $4.02.

According to the U.S. Energy Information Administration's weekly Gasoline and Diesel Fuel Update, prices are not only back up over the $4-mark for diesel, but are approximately 17 cents per gallon more than they were a year ago at this time.

The Midwest and the West Coast regions experienced the greatest jumps in price for diesel this past week at 11.2 and 11.7 cents respectively. Diesel prices on the West Coast reached $4.17 per gallon.

Prices on the East Coast saw the smallest increases on average with an increase of 6.5 cents per gallon.

Gasoline prices jumped significantly this past week by an average of 18.1 cents per gallon. The national average price for a gallon of gasoline sits at $3.54.

Although gasoline prices saw a marked increase, the price per gallon is only 5.6 cents above where it was a year ago.

The largest increases in prices were seen in the Midwest, where gasoline jumped 22.4 cents per gallon to $3.51.

Light, sweet crude oil for March delivery fell $1.60 on Monday to settle at $96.17 per barrel.

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