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Diesel Hits Highest Level Since August 2008 for Second Straight Week

February 26, 2013

By Evan Lockridge

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The average U.S. cost of diesel rose only 0.2 cents this week from the week before, but it was enough to send it to its highest price since August of 2008 for the second consecutive week. It's also up for the sixth straight week.

It came in at $4.159 per gallon, according to the weekly U.S. Energy Department report, which is 10.8 cents higher than the same time a year ago. Its low for the year was the week of January 14 when it averaged $3.894, just before it began its most recent string of hikes.

Unlike last week, when all regional prices moved higher, price declines were reported in three regions of the country:

  • Lower Atlantic, dropping 0.4 cent to $4.129;
  • Midwest, falling 1.1 cent to $4.121;
  • West Coast, slipping 1.5 cents to $4.299 per gallon.

Diesel increased the most in the Rocky Mountain region, adding 2.5 cents, but it was still the least expensive of any region, registering $4.057. New England had the highest regional price at $4.344 per gallon, adding 1 cent from last week.

Prices for gasoline continued their trek into higher priced territory with the average cost increasing 3.7 cents this week from last, for an average cost of #3.784.

The average price of a gallon of gasoline is up 6.3 cents compared to the same time a year ago. Prices increased from last week in all regions of the country except the Midwest, where it fell 2.8 cents. Prices in the different regions range from $3.147 in the Rocky Mountain section of the country to $4.053 along the West Coast.

This came as the price of crude oil futures in New York trading on Monday barely moved, adding just 2 cents and closing at $93.11 per barrel, following two days of big declines last week. It's down a few dollars from the same time a week ago.

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