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On-highway diesel takes a hike of 1.7 cents to $3.960

All reporting regions of the U.S. Energy Information Association showed increased diesel prices except for the Midwest, which was only down nine tenths of a penny to $3.848, compared with $3.857 a gallon last week.

The Trucker Staff

2/21/2012

Mirroring the escalating price of gasoline, on-highway diesel prices yesterday took a hike upwards, with the national price increasing 1.7 cents from last week’s $3.943 to $3.960 — the fourth upswing in so many weeks.

Prices were reported today because government offices were closed Monday for President’s Day.

All reporting regions of the U.S. Energy Information Association showed increased diesel prices except for the Midwest, which was only down nine tenths of a penny to $3.848, compared with $3.857 a gallon last week.

California diesel prices were at $4.258, up 4.9 cents from last week, while gasoline there was nearing $3.75 a gallon.

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The West Coast reporting region (not counting California) showed diesel was up 3.7 cents to $4.054.

The New England reporting region was only up 1.1 cents, but that pushed diesel there up nearer to $5 a gallon, at $4.161.

Oil today was at its highest price since May — over $106 a barrel — spurred by Iran’s announcement this weekend that it will stop selling oil to Britain and France in retaliation for a planned European oil embargo this summer.

Oil, diesel, gasoline and home heating oil all went up accordingly, although some investors deemed it a scare ploy by Iran.

For region-by-region prices click here.

The Trucker staff can be reached to comment on this article at editor@thetrucker.com.

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