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Average Diesel Cost Increases for First Time in Three Weeks

January 27, 2014

By Evan Lockridge

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The cost of diesel has increased 3.1 cents from a week ago, the first in three weeks, for an average of $3.904 per gallon, according to new figures from the U.S. Energy Department.

While the gain erased most of price decline seen the past couple of weeks, diesel is still 2.3 cents lower than it was a year ago.

Prices moved higher in all regions of the country over the past week, rising from as little as 0.1 cent in the Gulf Coast region, to as much as 8.4 cents in the Central Atlantic section of the East Coast region, where the average is $4.144.

Credit: U.S. DOE
Credit: U.S. DOE

Diesel ranges between a low of $3.772 in the Gulf Coast region to a high of $4.171 in the New England portion of the East Coast region, a hike of 5.3 cents.

Meantime, the price of gasoline edged slightly lower from last week, shedding .0.1 cent, for a national average of $3.295 per gallon. That's the third straight weekly drop. It’s down even more compared to the same time a year ago, 6.2 cents lower.

Gasoline prices fell in all parts of the country, except in the Midwest region, where it gained 1.9 cents, for an average of $3.219 per gallon.

The range for gasoline is between a low of $3.092 in the Gulf Coast part of the country to a high of $3.486 in the West Coast region.

This numbers came out as the price of oil on Monday in New York trading lost 92 cents on the day, settling at 95.72 per barrel. Compared to a week ago it is 73 cents higher.

Crude prices lost some steam the past two trading sessions after earlier gaining ground last week, following investor concerns global demand for oil may weaken, especially in “emerging markets” overseas.

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