Diesel prices on the rise to $3.157

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On-highway diesel prices are edging up, posting Monday at $3.157 for the national average compared with $3.133 for the week of April 23, a gain of 2.4 cents a gallon.

The U.S. Energy Information Administration (EIA) showed diesel prices in all 10 of its reporting sectors increasing, with the Midwest sector up 3.6 cents at $3.083; the Rocky Mountain region up 3.4 cents from last week at $3.215 a gallon; and New England up 3.2 cents a gallon at $3.203.

California still has the highest diesel at $3.834, although prices only went up there 1.9 cents a gallon. The Gulf Coast sector was the only area Monday to have diesel prices below the $3-a-gallon mark ($2.946).

Monday’s national average surpassed last week’s national average, which was the highest price since the week of January 5, 2015.

Analysts for some time have predicted an upswing in oil prices, and as oil continues to increase, so will diesel, an oil distillate.

Benchmark U.S. crude rose 86 cents to $68.94 per barrel Monday, The Associated Press reported.

One analyst predicted oil will ramp up to $80 per barrel by July.

If so, diesel prices will rise right along with it.

So stay tuned.

For more details on diesel prices click here.

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