Truckers in most of the United States today saw diesel prices increased from last week, with the national on-highway average up 7 tenths of a penny to $2.389 a gallon compared with $2.382 last week, according to the Energy Information Administration (EIA) of the U.S. Department of Energy.
That average is still 10.3 cents-a-gallon cheaper than it was at this time a year ago, and as yet no region is selling diesel for $3 a gallon and above, with California coming closer than any with prices this week at $2.766 a gallon.
Only EIA’s Central Atlantic and Midwest regions experienced decreases in diesel prices but both areas only saw a slide of 3 tenths of a penny, with diesel selling in the Midwest region today for $2.356 compared with $2.359 the week prior and diesel in the Central Atlantic reporting sector selling for $2.486 a gallon today compared with $2.489 last week.
Diesel prices could be down again next week as oil is extremely volatile right now, according to analysts.
Oil prices settled at their highest today since July 1, Dow Jones reports.
November West Texas International crude rose 1.2 percent or 57 cents to settle at $48.81 a barrel on the New York Mercantile Exchange today while the December contract for Brent was up 70 cents or 1.4 percent a barrel on the ICE Futures exchange in London, the highest it’s been in some six weeks.
The increases are seen as a result of OPEC’s announced intentions last week of striking a “preliminary” deal to decrease output to help drain the global oil glut but those deals have a way of falling through, analysts said.