Diesel Average Rises 2.1 Cents; Posts First Gain in 10 Weeks
iesel fuel’s average national price rose for the first time in 10 weeks, climbing 2.1 cents to $2.524 a gallon, the Department of Energy reported Monday.
The national average price of gasoline dropped 1.8 cents to $2.208 following a 3.5-cent drop in the previous week. Prices are 39.5 cents lower than a year ago.
The halt in Diesel’s 10-week skid follows a 0.3-cent drop last week. Prices are 63.3 cents lower than a year ago.
Meanwhile, crude oil futures declined, closing below $59 a barrel on the New York Mer-cantile Exchange on continued speculation the Organization of Petroleum Exporting Countries will not fully follow through with plans for a 1.2 million barrel-a-day production cut, Bloomberg reported.
Prices were higher than Friday’s close, when oil slumped to a 2006 record low of $56.90 a barrel, Bloomberg said.
Crude oil futures on Monday rose 52 cents to close at $58.81 a barrel.
Each week, DOE surveys 350 diesel filling stations to compile a national snapshot average price.