Following some gains in oil prices over the past week, the average cost of on-highway diesel has recorded the first increase in its nationwide average cost in six weeks, according to new U.S. Energy Department figures.
It gained 2.6 cents from last week, moving to $2.78 per gallon, following five consecutive weekly drops totaling 19 cents. Compared to this time a year ago the price is still $1.191 less and is remains at its lowest level since February 2010.
Prices increased in all sections of the country over the past week, except in New England, where it fell 2.7 cents from a week earlier, for an average of $3.049 per gallon.
The regional price hikes range from just 0.1 cent in the Central Atlantic states, also the highest priced average regional cost in the country at $3.081 per gallon, to 5.1 cents in the West Coast region, for an average of $2.965
The least expensive average diesel price is in the Gulf Coast region, up 3.9 cents from last week, hitting $2.659.
The average cost of regular-grade gasoline posted an even bigger increase over the past week, 7.7 cents, to register $2.458 per gallon. Compared to the same time in 2014 the price is $1.198 less.
Prices increased in all parts of the country over the past week and currently range from a low of $2.242 in the Gulf Coast region to a high of $2.968 in the West Coast region.
Meantime, the price of oil posted gains, adding 64 cents on Monday before settling at $56.38 per barrel in New York. Compared to last Tuesday’s opening market price it is up $4.33, after a sharp gain last Wednesday and despite a decline on Friday.
Monday’s increase came after China announced a move to shore up its economy, which is still increasing, but at its slowest annual pace in six years during the first quarter.