US Diesel Average Increases for 1st Time in 14 Weeks
Labor Day marked the end of the 14-week price holiday for diesel, as the U.S. average retail price rose by 2 cents a gallon to $2.534, the first such increase since Memorial Day.
The Department of Energy also said Sept. 7 that the gasoline average dropped by 7.3 cents a gallon to $2.437, the third straight weekly decline.
A year ago, the diesel average was higher by $1.28 a gallon and gasoline cost more by $1.02.
The online price report from DOE’s Energy Information Administration was released Sept. 8 and was based on a survey of diesel fueling stations and gas stations concerning their prices Sept. 7.
From May 25 to Aug. 31, the diesel average fell by 40 cents a gallon, or 13.7%, to $2.514 — the lowest price since July 2009.
On the New York Mercantile Exchange, crude oil futures contracts closed at $45.94 per barrel Sept. 8, a dip of 11 cents per barrel from the Sept. 4 close.
