The average U.S. cost of on-highway diesel moved higher on Monday for the second straight week as oil prices also gained last week.
The U.S. Energy Department reports the fuel increased 3.1 cents to $2.811 per gallon. This follows diesel falling for five consecutive weeks, when it lost a total of 19 cents, which was preceded by five straight weeks of price increases totaling 11.3 cents.
This week’s price is still $1.164 lower than the same time a year earlier.
Regionally, prices moved higher in all parts of the country over the past week, ranging from just 0.8 cent in New England for an average of $3.057, to as much as 6.1 cents in the West Coast region for an average of $3.026.
Diesel now ranges from a low of $2.683 in the Gulf Coast region, up 2.4 cents from last week, to as high as $3.11 in the Central Atlantic states, where it’s up 2.9 cents during the same time.
Meantime, the average cost of regular grade gasoline posted an even larger increase than diesel over the past week, 8.5 cents, registering $2.57 per gallon, its highest level since early December.
Compared to this time a year ago gasoline is still $1.143 less per gallon.
Prices are up in all parts of the country over the past week and range from a low of $2.305 in the Gulf Coast region to a high of $3.182 in the West Coast region.
This happed as overseas the price for Brent crude hit a 4 and half month high in trading on Friday, settling at $65.28 per barrel, and finishing higher for the third straight week. In the U.S., crude added 2.5% last week and was up for the sixth straight week, closing slightly lower on Friday after hitting a 2015 high of $58.41. Monday it settled at $56.99 per barrel, just 16 cents lower on the day.
Originally posted on Trucking Info