Diesel Continues to Rise, Gaining 2.1¢ to $3.534 a Gallon
Diesel’s national average price rose 2.1 cents to $3.534 a gallon, its 11th straight weekly increase, while gasoline also edged higher, the Department of Energy said.
Gasoline rose 0.8 cent to $3.14 a gallon, its second straight gain and 10th increase in 11 weeks, DOE said Monday following its weekly survey of filling stations.
Diesel has soared 37.2 cents since the end of November and Monday’s price is 77.8 cents higher than the same week last year, DOE said.
The price is the highest since trucking’s main fuel averaged $3.659 on Oct. 13, 2008, according to DOT records.
Gasoline’s 3.1-cent bump last week had been its biggest two months and the motor fuel has risen 28.4 cents since late November. Its price is 53.2 cents over a year ago and, like diesel, it is at its highest level since October 2008.
The upturns came despite lower oil prices in the past two weeks, as crude futures have slipped from more than $92 a barrel in late January to below $85 a barrel.
Oil finished trading day Monday down 77 cents to $84.81 a barrel on the New York Mercantile Exchange, the first time it has closed below $85 since Nov. 30, Bloomberg reported.
Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price.
