U.S. diesel jumps 8.2 cents

| January 12, 2010

The national average retail price of a gallon of diesel climbed for the third consecutive week, this time jumping 8.2 cents to $2.879 for the week ending Jan. 11.

The price, which has climbed 15.3 cents since Dec. 21, is 56.5 cents higher than the same week last year, according to the U.S. Department of Energy. The price is the highest since Nov. 10, 2008, when it was $2.944.

All regions tracked by DOE saw price increases. The biggest increase, 13.3 cents, was found in New England, where prices climbed to $3.068, the nation’s most expensive diesel by region. The smallest increase, 6.3 cents, was found on the West Coast, where prices climbed to $2.971. The nation’s least expensive diesel by region, $2.814, was found in the Rocky Mountains, where prices climbed 6.8 cents.

California, which DOE tracks separately for its weekly update, saw a price increase of 7.3 cents to $3.032; that price is 69.8 cents higher than last year. For state-by-state diesel prices, updated daily, click here.

DOE said in its most recent monthly short-term energy outlook that diesel will average $2.96 this year, two cents higher than the previous forecast.