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Following indications the United States will launch a military strike against Syria, the price of oil has reached a more than two-year high.
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The average cost of diesel in the United States has increased for the second straight week, putting it just below where it was four weeks ago.
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Just as soon at it looked like diesel was starting to trend lower it has done an about face. The average U.S. price has increased 0.4 cents per gallon over the past week, registering $3.90 per gallon.
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The price for diesel has fallen for the second straight week, putting it a little above where it was four weeks ago.
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Diesel prices this year are expected to average slightly less than they were last year and continue moving lower next year, according to a new forecast.
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The price of diesel continues to seesaw, falling just slightly this week following a just over one-penny hike last week.
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Prices for diesel and gasoline moved higher again over the past week as the cost of oil eased back Monday following its highest closing price on Friday since March 2012.
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More signs of improvement in the U.S. economy helped drive the price of oil to above $109 a barrel on Friday, its highest price since March of 2012. Oil futures have risen more than $11 a barrel this month.
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The prices for diesel and oil are all surging. A new report released Monday by the U.S. Energy Department shows the average cost of diesel has risen 3.9 cents over the past week to $3.867 per gallon.
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The national average price of diesel has posted its first increase for the first time in several weeks, following a big spike in the price of oil. This is the first increase since the week of May 20 and puts the price of diesel 14.5 cents a gallon higher than the same week a year ago.
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