Diesel Jumps 8.2¢ to Record $4.727 a Gallon
The national average price of retail diesel fuel jumped 8.2 cents to a record $4.727 a gallon, breaking the previous record of $4.723 set six weeks ago, the Department of Energy said Monday.
The boost put the price $1.878 over the same week last year, DOE said following its weekly survey of filling stations.
Gasoline, meanwhile, rose 1.9 cents to a record $4.114 a gallon, leaving its price $1.133 higher than a year ago, DOE reported.
Following the May 26 record, diesel’s price fell 7.8 cents in June, but crude oil spiked to a record of more than $145 a barrel late last week, Bloomberg reported.
Oil slid nearly $4 on Monday to close at $141.37 a barrel on the New York Mercantile Exchange, in part due to a rise in the value of the U.S. dollar, Bloomberg said.
Diesel’s price rose in all five national regions, led by an 8.5-cent jump in the East Coast states, to $4.789 a gallon.
The price gained 6.9 cents on the West Coast, to $4.886 a gallon, the highest regional price.
In California, which DOE breaks out as a sub-region of the West Coast, diesel crept over $5, jumping 7.3 cents to $5.001, the highest reported price overall. On May 26, the California price had topped out at $5.027 a gallon.
Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price.
