Diesel Average at Highest Price in 2016, Up 3.4¢ to $2.527
The U.S. average retail price of diesel jumped 3.4 cents to $2.527 a gallon, according to the Department of Energy, as the price of oil hovered near $52 a barrel.
It was the highest average price for diesel this year, according to DOE.
The U.S. regular gasoline average price rose 2.8 cents to $2.264 a gallon, 23.8 cents higher than a year ago, the department’s Energy Information Administration said.
Meanwhile, oil prices have stabilized after oil reached its highest level in 17 months on producers’ pledge of additional cuts, climbing to $52.98 per barrel on Dec. 13.
The national diesel average is 24.3 cents higher than it was a year ago, when the price was $2.284, DOE said after its Dec. 19 survey of fueling stations.
Regional average retail diesel prices were higher in all areas, all of which also posted higher than year-ago prices. California posted the highest price, up 1.7 cents to $2.854 a gallon. The Gulf Coast had the lowest price, $2.410, up 3.9 cents from the previous week.
West Texas Intermediate crude futures on the New York Mercantile Exchange closed at $52.12 per barrel Dec. 19, compared with $52.83 on Dec. 12.
