Diesel prices reverse trend, increase 3.5 cents a gallon

Although the Energy Information Administration didn’t give a likely reason for the increase, it would be easy to point to rising oil prices. (The Trucker file photo)

The Trucker News Services

7/9/2012

WASHINGTON — In the early days of Monday Night Football, when the outcome had been firmly decided, Dandy Don Meredith would sing “Turn Out the Lights, the Party’s Over.”

The “party” during which on-highway diesel prices dropped 11.6 percent between April 16 and July 2 ended abruptly Monday when the Energy Information Administration of the Department of Energy announced that average on-highway price of a gallon of diesel had risen 3.5 cents to $3.683.

Although the EIA didn’t give a likely reason for the increase, it would be easy to point to rising oil prices, which have increased steadily during the past two weeks after falling for almost two months from a high of $106.16 to as low as $77.72.

Oil closed on the New York Stock Exchange Monday at $85.99.

The largest regional increase in diesel prices occurred in the Midwest where prices were up 5.8 cents a gallon, followed by a 3.9 cent increase in the Lower Atlantic states.

Only the New England states and the Rocky Mountain states reported decreases.

For a complete list of prices by region for the past three weeks, click here.

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