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Diesel Prices Up 2 Cents for the Week

June 06, 2016

Source: EIA
Source: EIA

The average price of diesel fuel has risen by a few cents, continuing a trend toward rising energy costs in the U.S., according to the latest numbers from the Energy Department.

The price of a gallon of on-highway diesel fuel jumped 2.5 cents last week, bringing the average to $2.407 at the pump. The price is 47.7 cents cheaper than it was for the same week a year ago.

Prices were up in every major region in the U.S., with the largest increase hitting the Lower Atlantic at 4.1 cents. The smallest change was in the Rocky Mountain region with a 1.5-cent increase.

The price of regular gasoline was up 4.2 cents for the week, bringing the average price into near parity with diesel fuel at $2.381 per gallon. The price is 39.9 cents cheaper than it was a year ago, despite the steady increases so far this year.

Prices varied around the country with some areas seeing small decreases in prices at the pump. The largest increase in gas prices was in the Midwest at 6.9 cents. The largest decrease in those prices was a tiny 0.3-cent drop in the Central Atlantic region.

Crude oil prices were trending up on the stock market on June 6, as production disruptions in a few key regions have kept prices near $50 per barrel, according to a MarketWatch report.

While production is still higher than demand globally, fighting in Nigeria and the fires that devastated portions of Canada last month have offset the demand disparity until production gets back to normal.

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