Diesel Rises 1.7¢ to $3.96 in Fourth Straight Gain
Diesel fuel rose for a fourth week, gaining 1.7 cents to $3.96 a gallon, while gasoline rose for the eighth time in nine weeks, the Department of Energy said Tuesday.
Gasoline’s national average rose 6.8 cents to $3.591 a gallon, DOE said following its weekly survey of filling stations. It was also the fourth straight increase at the gas pump.
Diesel’s sixth increase in seven weeks left it 38.7 cents over the same week last year, while gas is 40.2 cents higher than last year.
Diesel has posted a net gain of 17.7 cents in the past seven weeks, following a cumulative drop of 22.7 cents in the six weeks before that.
Gasoline has gained a cumulative 36.7 cents in the past nine weeks, with just one decline — a 0.2-cent dip four weeks ago.
Monday’s diesel price is the highest since it was $3.964 on Nov. 28, according to DOE records. Gas is at its highest level since Sept. 19.
Crude oil rose $2.60 on Tuesday to finish the trading day at $105.84 a barrel on the New York Mercantile Exchange, Bloomberg reported.
Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price.
This week’s prices were released on Tuesday due to the Presidents’ Day holiday on Monday.
