Diesel prices are on the upswing again, with on-highway diesel increasing 2.4 cents a gallon today and edging above the $2.50-a-gallon mark to $2.531, the Energy Information Administration (EIA) reported. It was $2.507 the week prior.
EIA’s Midwest reporting region saw the heftiest hike, 3.4 cents a gallon, to $2.486, from $2.452. Meanwhile, diesel in California — which more often than not has the highest prices — scooted up 3 cents a gallon to $2.907, nearer than it’s been to the $3-a-gallon mark in quite some time.
The Gulf Coast reporting sector has the cheapest diesel this week. Prices there only went up 1.7 cents a gallon to $2.359, from $2.342 a week ago.
The price of oil rose again after its best week of the year, The Associated Press reported. Benchmark U.S. crude added 46 cents to $50.17 a barrel in New York. Brent crude, the international standard, picked up 13 cents to $52.65 a barrel in London. U.S. crude rose almost 9 percent last week to reach its highest price since late May, a good indicator of why diesel prices have been rising.
Wholesale gasoline rose 3 cents to $1.71 a gallon. Heating oil added 1 cent to $1.65 a gallon. Natural gas plunged 15 cents, or 5 percent, to $2.79 per 1,000 cubic feet.
For diesel prices in all of the EIA’s 10 reporting areas for three weeks, click here.