Diesel Rises 0.5¢ to $2.271
The U.S. retail diesel average inched up 0.5 cent to $2.271, the Department of Energy said.
Although only a minuscule increase, the price climbed for the 11th time in 12 weeks. Diesel, however, remained 60.7 cents cheaper than a year ago, when the price was $2.878.
Most regions posted higher prices, DOE said after its May 9 survey of fueling stations. But the Lower Atlantic was unchanged at $2.232, and the Gulf Coast fell by 0.6 cent to $2.131.
Meanwhile, the national average price for regular gasoline fell 2 cents to $2.220 a gallon, DOE’s Energy Information Administration said. It remained 47.1 cents cheaper than a year ago.
Prices climbed in five regions and fell in four others, EIA said.
Crude oil futures on the New York Mercantile Exchange staggered along, closing May 9 at $43.38 after opening at $45.79.
Bloomberg News reported crude has traded near $45 a barrel as Canadian wildfires knocked out about 1 million barrels a day of production, outweighing the new Saudi Arabian oil minister’s pledge to maintain the country’s policy of near-record output.
Bloomberg added there was deteriorating security in Nigeria’s most-important oil producing region.
