The price of a gallon of diesel did increase again, but this week’s jump was not as profound as it has been in recent weeks during the Iran war.
After weeks of soaring prices, some weeks by as much as 50 cents per gallon, the U.S. Energy Information Administration (EIA), the national average for a gallon of gas increased only by a little over two cents to $5.401 from $5.375 last week, which was more than 30 cents higher than the previous week.
Three regions actually reported a slight decrease in prices. The largest drop came from the Midwest Region which fell by just over five cents per gallon. The Gulf Coast Region reported a nearly three-cent decrease while the Lower Atlantic Region drop by just $0.001 cent per gallon.
The highest jumps came from the California Region which jumped by nearly 35 cents per gallon from $6.870 to $7.219 while the West Coast Region also soared by more than 28 cents from $6.310 to $6.596. Meanwhile the West Coast Less California climbed 23 cents from $5.826 to $6.056.
The Associated Press reported that the U.S. diesel price is now going for an average of $5.45 a gallon, up from about $3.76 a gallon before the war began, per AAA.
If the Iran war drags on, it’s possible that those prices could tick up even higher. AP reported that most tanker movement in the Strait of Hormuz, where roughly one-fifth of the world’s oil typically sails through, remains at a halt. That’s led to cuts from major producers in the region who have no way of getting their crude to market. Meanwhile, Iran, Israel and the U.S. have all struck oil and gas facilities, worsening supply concerns.
The Associated Press contributed to this report.
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
