The average price of both on-highway diesel fuel and regular gasoline continued to rise last week, according to the latest numbers from the Energy Department.
The price of a gallon of diesel fuel jumped 2.4 cents last week, hitting a national average of $2.431. Despite the increases, the price is still nearly 44 cents cheaper than it was a year ago.
By region, prices were up in all areas, with the largest increase occurring on the West Coast at 3 cents per gallon. The smallest change in prices was in the Lower Atlantic region with an increase of 0.9 cents per gallon.
The price of a gallon of regular gasoline was also up last week with an increase of 1.8 cents, settling at $2.399 per gallon. The price is still 43.6 cents cheaper than it was in the same week last year.
Gasoline prices were up and down by region, with the largest increase coming to the Midwest at 5.7 cents per gallon. There were a few price decreases, with the biggest drop occurring in the Lower Atlantic at 1.7 cents.
Crude oil prices dropped on June 13 with indications that supply was increasing in the U.S., according to a Wall Street Journal report.
This is the second week in a row that the number of oil rigs had increased and supply was increasing because of the increasing market price of oil. Some analysts say the increasing supply could return the market to a supply glut again, which could have a wider-reaching effect on the global price of oil.
Originally posted on Trucking Info