Diesel rises above $2.50 for first time in more than a year

Diesel rises above $2.50 for first time in more than a year

Another bump in diesel has pushed fuel prices to the highest level in 14 months, now running almost a two bits higher than this time last year.

The average U.S. retail pump price for diesel climbed 3.4 cents in the Dec. 19 report by the Energy Information Administration (EIA), to $2.527 per gallon. That’s 24.3 cents higher than this time last year and the highest price since the Oct. 19, 2015 report.

Prices were up in every region, including about 4 cents on the East Coast and coming in at $2.587 in New England, $2.667 in the Central Atlantic, and $2.47 in the Lower Atlantic.

The Midwest posted a gain of 3.3 cents ($2.479), and diesel was up 4.8 cents in the Rocky Mountains to $2.495.

On the West Coast, less California, diesel registered a 1.5-cent increase to $2.705. In California, the price rose 1.7 cents to $2.854, the highest price in the lower 48 states.

The Gulf Coast was up 3.9 cents to $2.41—still the lowest price for a gallon of diesel in the country.

The national average price for gasoline rose 2.8 cents for the week, to $2.264. That’s 2.4 cents higher than last year.

TAGS: News Business
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