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February 6, 2007 7:00 AM, EST

Diesel Price Rises 2.2 Cents to $2.435 a Gallon

Price Jump Is First Increase in Eight Weeks
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The average price of retail diesel fuel rose 2.2 cents to $2.435 a gallon, marking the first increase in eight weeks, the Department of Energy said late Monday.The price of gasoline also rose, climbing 2.6 cents to $2.191 a gallon. It was the first uptick in six weeks, though the price was unchanged last week at $2.165 from the previous week.Meanwhile, after reaching a one-month intraday high Monday, crude oil futures fell back 28 cents from Friday’s close on the New York Mercantile Exchange to finish the session at $58.74 a barrel, Bloomberg reported.Supplies of distillate fuel — which include diesel and home heating oil — were higher than a five-year average as of late January, as cold weather swept through most of the country, which could spike demand, Bloomberg said.Diesel prices fell only in the Rocky Mountain region for the week, dipping 3.3 cents to $2.523 a gallon.The price jumped in California, a subset of the West Coast region, by 6.4 cents to $2.825, the highest price nationwide, DOE said.Each week the department surveys 350 filling stations nationwide to get a national snapshot average price.