Diesel price climbs 3.4 cents, sets another record high

user-gravatar

The national average retail price of a gallon of diesel set yet another record high for the week ending Monday, Nov. 26, climbing 3.4 cents to $3.444. The new price was 87.7 cents higher than the same week last year, according to the U.S. Department of Energy. The average price now has been above $3 for a record 10 consecutive weeks.

Prices were up in all regions tracked by DOE: The New England region saw the biggest increase, a whopping $0.102, at $3.590, to become the nation’s most expensive diesel. The Central Atlantic region saw the second-biggest increase, $0.050, at $3.574.

The smallest price increase, $0.001, was on the West Coast, at 3.587. The nation’s cheapest diesel, $3.360, was in the Gulf Coast region, where week-over-week prices climbed $0.036.

Tight supply, growing demand worldwide and “heightened geopolitical risks” are to blame for the high prices of diesel and gasoline, said DOE’s Energy Information Administration.

For state-by-state diesel prices, updated daily, click here.