With tensions overseas continuing to drive up the price of crude oil, the price of diesel has soared 23.8 cents in the past four weeks. The average retail price of a gallon of on-highway diesel jumped 4.3 cents to $4.094 a gallon during the week ended Monday, March 5, according to the U.S. Department of Energy’s Energy Information Administration.
The average price is now the highest since last May and only the third time since then that the price has topped $4 a gallon, the second of those coming last week. The price now has risen eight of the past nine weeks, with the latest price being 22.3 cents higher than the same week last year.
The nation’s most expensive diesel on average is in California at $4.454, while the least expensive diesel on average is $3.974 a gallon in the Midwest. The Rocky Mountain region, which saw the nation’s highest one-week increase at 6.7 cents, nonetheless is the only other place where the average price remains less than $4 on average. The smallest one-week increase was 2.8 cents on the Gulf Coast.
Complete diesel price information is available on EIA’s Website.