The average price of diesel continues moving higher, hitting its highest average cost since late October. The national average was up 3.9 cents from last week, to $3.883 per gallon, according to the U.S. Energy Department.
The increase is the second consecutive one, but the fuel is still 14.4 cents per gallon less than the same time a year ago. Before these two most recent hikes, diesel failed to move higher for nearly three months.
Prices in all the regions and sub regions of country increased over the past week, with the smallest being in the Rocky Mountain region, adding 2.1 cents, for an average of $3.858, to as much as 5 cents in the Midwest region, for $3.879. The sub region of the West Coast, minus California, had a slightly bigger increase, 5.7 cents, for $3.929.
Overall, the lowest regional price is the Gulf Coast at $3.78, up 2.7 cents, while the highest is in the New England sub region of the East Coast region, at $4.04, up 3.7 cents.
In contrast, the average cost of gasoline has fallen over the past week, following a jump the week before. The national average is down 2.1 cents to $3.272 per gallon. Compared to the same time a year ago it is 12.1 cents less.
Regionally, prices increased in most parts of the East Coast region along with the West Coast, while the remainder of the country saw a decline.
Gasoline ranges from a low of $3.113 in the Rocky Mountain states, followed closely by the Midwest and Gulf Coast regions, to a high of $3.475 in both the West Coast region and the New England sub region of the East Coast region.
Meantime, the price of oil rallied on Monday in New York, climbing $1.10 on the day and settling $93.82 per barrel, following reports of upbeat economic activity abroad as well as at home. Over the past week the black gold is down about 90 cents.