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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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Diesel and gasoline taxes will change in 10 states on July 1, with most of them heading higher, according to an analysis by the Institute on Taxation and Economic Policy.
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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.
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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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The price of diesel has fallen for the third week in a row, putting the U.S. average close to where it was just four weeks ago. In contrast, the average U.S. cost for gasoline has increased over the past week.
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The average cost of diesel and gasoline in the United State has retreated slightly after some recent gains, while crude oil futures are down slightly from the week before. The average price of a gallon of diesel has fallen 1 cent to $3.88 per gallon, following two straight weekly increases totaling 4.5 cents.
Read More →After falling for 10 straight weeks, the average U.S. cost of diesel has done an about-face. Gasoline is higher for the second straight week but oil is slightly lower.
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The new Short-Term Energy Outlook from the U.S. Energy Department’s Energy Information Administration says diesel fuel prices, which averaged $3.95 per gallon last summer, are projected to fall to an average of $3.88 per gallon this summer and move generally lower into 2014.
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The average U.S. cost of diesel has dropped for the 10th week in a row, down 0.6 cents from last week, coming in at $3.845 per gallon, according to new figures form the U.S. Energy Department.
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