U.S. diesel price virtually unchanged

user-gravatar

The national average retail price of a gallon of diesel fell 0.1 cent from last week to $3.308 for the week ending Monday, Dec. 24. The new price is still 71.2 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 14 consecutive weeks. DOE’s weekly roundup of U.S. diesel prices was delayed two days because of the Christmas holiday.

Prices in the eight regions tracked by DOE saw an even split of modest increases and decreases. The largest increase, 0.6 cent, was in the Midwest region, where prices climbed to $3.277. The largest decrease, 5.1 cents, was in the Rocky Mountain region, where prices fell to $3.268.

The nation’s most expensive diesel, $3.584, was in the New England region, where week-over-week prices climbed 0.3 cent. The nation’s cheapest diesel, $3.246, was in the Gulf Coast region, where prices increased 0.1 cent from the previous week.

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.