Diesel Rises 5.4¢ in First Gain Since June
Diesel’s national average price rose for the first time since June, gaining 5.4 cents to $3.677 a gallon, led by a big jump in the Midwest, the Department of Energy reported Nov. 10.
Gasoline, meanwhile, continued to decline, falling 5.2 cents to a four-year low $2.941 per gallon, DOE said after its weekly survey of filling stations.
The upturn left diesel, which had declined or was flat in each of the previous 18 weeks, 15.5 cents less than the comparable week last year. Gas is 25.3 cents below its year-ago level.
Including two upturns at the end of June, the diesel increase was only the third since April. Diesel’s 2014 high was $4.021 a gallon, which it hit in mid-March.
The price varied regionally, declining in DOE’s East and West Coast regions but rising 8.3 cents in the Rocky Mountains and jumping 16.4 cents in the Midwest to $3.788, DOE reported.
Oil fell to a more than two year low $77.19 per barrel last week on the New York Mercantile Exchange, according to Bloomberg News figures.
Crude futures fell $1.25 on the Nymex on Nov. 10 to finish at $77.40 a barrel, Bloomberg reported.
