U.S. diesel price climbs 3.3 cents, $2.961

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Fuel Nozzle1

After five consecutive weeks of declining prices, the national average retail price of a gallon of diesel climbed 3.3 cents to $2.961 for the week ending Monday, June 21. The price had fallen 19.9 cents in the previous five weeks after six consecutive weeks of increases. This week’s price is 34.5 cents higher than the same week last year, according to the U.S. Department of Energy.

All regions tracked by DOE saw price increases except for one, the Rocky Mountains, which enjoyed a 0.9-cent decline to $2.980. Elsewhere, the biggest increase, 4.4 cents, was found in the Midwest, where prices climbed to $2.936. The smallest increase, 0.4 cent, was found in New England, where prices climbed to $3.029.

The nation’s most expensive diesel by region, $3.093, was found on the West Coast, where prices climbed 3.9 cents. The nation’s least expensive diesel by region, $2.908, was found on the Gulf Coast, where prices climbed 3.4 cents.

California, which DOE tracks separately for its weekly update, saw a 5.7-cent price increase to $3.125; that price is 33.6 cents higher than the same week last year.

DOE’s latest monthly short-term energy outlook projects that diesel will average $2.96 this year and $3.11 in 2011; last year, diesel averaged $2.46 a gallon.