U.S. diesel price retreats 1.6 cents from record high

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After several weeks of double-digit increases, the national average retail price of a gallon of diesel fell 1.6 cents from last week’s record high to $4.707 for the week ending Monday, June 2. Still, the price — which had climbed 76.8 cents in the last seven weeks — is $1.908 higher than the same week last year, according to the U.S. Department of Energy. The average U.S. price now has been above $4 for eight weeks.

Most regions tracked by DOE saw price declines. The largest decrease by region, 3.0 cents, was found in the Lower Atlantic, where week-over-week prices fell to $4.687. The smallest price decrease by region, 0.5 cent, was found on the West Coast, where week-over-week prices declined to $4.878.

The nation’s most expensive diesel by region, $4.907, was found in the Central Atlantic, where prices declined 0.6 cent. California, which DOE tracks separately, recorded the nation’s highest diesel price, $5.027; prices in that state were unchanged after passing the $5 mark last week. The nation’s least expensive diesel by region, $4.643, was found in the Midwest, where prices declined 2.4 cents.

Two regions saw price increases: the Rocky Mountains, where prices rose to $4.68, a 2.7-cent increase; and New England, where prices climbed 0.3 cent to $4.846. For state-by-state diesel prices, updated daily, click here.