In The News
Cost of Diesel Rises for Third Straight Week
The national average price of on-highway diesel keeps pushing higher, increasing 4.3 cents from last week to $2.854 per gallon.
This is the third straight weekly increase but remains $1.11 less than this same time a year ago.
Price increases happened in all the different parts of the country since last week, ranging from 0.9 cent in New England, for an average of $3.066 per gallon, to 8.6 cents in the West Coast region, for an average of $3.112. Minus California, the West Coast increase was even more at 10.6 cents but still less at $2.971.
Trucking's primary fuel now ranges from a low of $3.715 in the Midwest, up 2.4 cents since last week, to a high of $3.133 in Central Atlantic states, a gain of 2.3 cents during the same time.
The average cost of regular-grade gasoline also increased over the past week, adding 9.4 cents to the national average, now at $2.664 per gallon.
This is its highest price since early December but is still $1.02 less than the same time a year ago.
It ranges from a low of $2.384 in the Gulf Coast region to a high of $3.416 in the West Coast region.
Meantime, the price of oil on Monday closed slightly lower on the day in New York, shedding 22 cents, and settling at $58.93 per barrel. It hit a five-month high last week of near $60 per barrel with Brent Crude in London going past the $67 mark, before retreating slightly as well.
This comes amid a feeling U.S. shale oil production has peaked while the number of U.S. oil rigs in service had declined for 21 straight weeks to the lowest level since September 2010.