A fourth consecutive increase in the price of diesel has pushed fuel to a level not seen in 14 months, closing out 2016 33 cents higher than the beginning of the year.
The average U.S. retail pump price for diesel climbed 1.3 cents in the Dec. 26 report by the Energy Information Administration (EIA), to $2.54 per gallon. That’s the highest price since the Oct. 12, 2015 report.
Prices were up in every region, including almost 2 cents on the East Coast, coming in at $2.611 in New England, $2.687 in the Central Atlantic, and $2.478 in the Lower Atlantic.
The Midwest posted a gain of 1 cent ($2.489), and diesel was up 2.1 cents in the Rocky Mountains to $2.516.
On the West Coast, less California, diesel registered a 2.2-cent increase to $2.727. In California, the price rose 1.7 cents to $2.871, the highest price in the lower 48 states.
The Gulf Coast was up 1.1 cents to $2.421—still the lowest price for a gallon of diesel in the country.
The national average price for gasoline rose 4.5 cents for the week, to $2.309. That’s 27.5 cents higher than last year.