Diesel Price Makes Fourth Straight Jump

The average price of diesel fuel in the United States jumped 3.6 cents last week to $1.488 per gallon, its fourth straight week of increase.

The new average price is the highest it has been since June 11, near the beginning of the 10-week swoon diesel prices did earlier this summer, according to a report by the Department of Energy’s Energy Information Administration.

At the same time, the average price of gasoline rose another 5.7 cents per gallon to $1.545. That figure is up 1.5 cents from the same time a year ago.

The trucking industry relies on diesel fuel to drive its largest trucks, but a good portion of trucking services are provided by smaller gasoline-powered vehicles. Any fluctuation in the cost of the two fuels affects the cost of providing trucking services.

he spike in diesel prices was led by gains in the Rocky Mountain Petroleum Administration for Defense District where prices skyrocketed 8 cents per gallon for the week.

The Midwest, Gulf Coast and West Coast districts also showed price increases outpacing the national average. The largest increase among the three was in the Gulf Coast district where the price went up 4.5 cents per gallon.

The West Coast and Midwest districts had increases of 3.9 cents and 3.8 per gallon respectively. The jump in the West Coast was led by a 5.4 cents per gallon rise in the state of California, one of the district’s major states.

The East Coast district posted a 2.1 cents per gallon rise, the smallest district-wide increase. Its New England sub-district showed the only decline in the U.S. The average price of diesel fuel in New England fell 0.4 cent per gallon for the week.

The EIA surveys 350 fueling stations in five districts at the start of each week, and usually reports the results on the same day that it polls the stations.