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Diesel prices hit two-year high with most recent jump

Another increase is the price of diesel fuel during the week ending Aug. 14 brought prices to its highest point in two years, according to the Department of Energy’s weekly report.

The week’s 1.7-cent increase, the seventh consecutive week with an increase, brought the nation’s average price for diesel to $2.598 per gallon.

This year’s previous high was set in early January and again in mid-April at $2.597 per gallon. The last time prices were above $2.598 was mid-August 2015, when prices were $2.615 during the week ending Aug. 17, 2015.

The West Coast less California region saw the biggest jump in prices during the most recent week, rising 4.1 cents.

The nation’s cheapest diesel is still in the Gulf Coast region at $2.41 per gallon, followed by the Lower Atlantic region at $2.527 per gallon.

The most expensive fuel is in California at $2.949 per gallon, followed by the West Coast less California region at $2.788 per gallon.

Prices in other regions, according to the DOE, are:

  • New England – $2.625
  • Central Atlantic – $2.761
  • Midwest – $2.57
  • Rocky Mountain – $2.70

ProMiles’ numbers during the same week had diesel prices increasing by 1.9 cents to $2.571 per gallon nationwide.

According to ProMiles’ Fuel Surcharge Index, the most expensive diesel can be found in California at $2.94 per gallon, and the cheapest can be found in the Gulf Coast region at $2.428 per gallon.

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Matt Cole is an Associate Editor for CCJ and Overdrive. Reach him at mattcole@randallreilly.com.