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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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Prices for oil and gasoline turned lower over the past week, with diesel on its sixth week of falling prices in a row. Crude oil, however, is approaching the $100 per barrel level again.
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The price of diesel has declined to a level not seen since late last July, according to the new weekly roundup of prices from the U.S. Energy Department. It has fallen 0.3 cents in the past week for a U.S. average of $3.838 per gallon.
Read More →Diesel has declined 0.8 cents per gallon over the past week for a U.S. average of $3.841 per gallon, it’s lowest since last July. This marks the fourth straight decline, placing it just over a nickel lower than where it was the last time it moved higher, while the current price is 11.2 cents per gallon higher than the same time a year ago.
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