Diesel prices jump nationwide, back over $4 per gallon in California

diesel Oct 1
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On-highway diesel prices rose for the week ending Oct. 1, according to the U.S. Energy Information Administration (EIA). The average price nationwide climbed by $0.042 to $3.313, the highest it’s been since December 2014. This week’s gain was the largest single-week gain since early May.

Prices rose in every region across the country, although unevenly. In California, the price for a gallon of diesel rose $0.052, putting it over the $4 per gallon mark, at $4.038. The West Coast overall saw an increase of $0.043, to $3.802.

California, however, did not experience the largest jump in prices for the week. That occurred in the Midwest, where diesel rose an even 6 cents, to $3.278, still one of the regions where diesel prices are lowest. The lowest diesel in the nation remains in the Gulf Region, where it finished the week at $3.079, up by $0.027 from a week ago.

The smallest increase was in the Rocky Mountain region, where prices rose $0.012 to finish at $3.367.

Nationwide, the price of diesel is currently $0.521 higher than it was a year ago. California has experienced the largest year-to-year gain, at $0.856, while the Lower Atlantic has seen the smallest year-to-year gain, $0.432 per gallon.

Oil futures rose Oct. 1, with the U.S. benchmark up by $1.66 to close at $74.91 a barrel, while Brent crude climbed by $1.57, or 1.9 percent, to $84.30.

Click here for a complete list of average prices by region for the past three weeks.

 

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