The price of on-highway diesel dropped significantly again last week, although not quite as steeply as the previous week.
Nationally, prices came down 3.8 cents to $3.85 per gallon. California diesel continued to sink fast with an 8.1 cent fall after a nine cent drop the week before. But at $4.065, it remained the most expensive. The Gulf Coast region was the cheapest at $3.798.
Prices are still up 92.6 cents nationally from one year ago.
Crude oil, on the other hand, climbed to a three-week high on signs of economic growth in the U.S. and China, the world’s two biggest oil consumers. Crude for August delivery gained $1.95 to $96.89 a barrel on the New York Mercantile Exchange, the highest settlement price since June 14.
Carl Larry, director of energy derivatives and research with Blue Ocean Brokerage LLC in New York, told Bloomberg oil may rise to $100 this month.
The price spike comes despite an effort by the International Energy Agency along with the Obama administration to release emergency oil onto world markets.
Printer Friendly Version
Email This Story
Fuel and Oil: Related News
7/6/2011 – Diesel Continues Decline; Oil Rises in Spite of Emergency Supplies
The price of on-highway diesel dropped significantly again last week, although not quite as steeply as the previous week….
More
7/5/2011 – ExxonMobil Increasing Biodiesel Offerings
ExxonMobil will begin to sell biodiesel-blended ultra-low-sulfur diesel for the first time at four rack terminals in Texas this summer,…
More
6/28/2011 – Diesel Takes Moderate Drop; Crude Falling in Face of Euro Debt
On-highway diesel prices took a somewhat steep drop last week after falling only slightly the week before….
More
6/24/2011 – International Energy Agency Taps Emergency Oil Reserves, Crude Tumbles
Crude oil tumbled on futures markets Thursday after the International Energy Agency announced it would release 60 million barrels of reserve crude oil over the next 30 days, or 2 million barrels per day. The United States will be supplying half of that oil, with the rest coming from other nations among the agency’s 28 member states….
More
6/21/2011 – Diesel Prices Drop Again; Crude Levels Off with European Debt Worries
On-highway diesel prices resumed their decline last week after a slight uptick the previous week.
Nationally, prices came down 0.4 cents to land at $3.95 per gallon. The small decrease did not make up for the previous week’s bump of 1.4 cents, but is perhaps an indication of price stabilization….
More
6/14/2011 – Slight Uptick in Diesel Prices; Crude Continues Decline
After several weeks of steady decline, on-highway diesel prices experienced a modest rise last week, the first in six weeks. The national average is up 1.4 cents to $3.954….
More
6/13/2011 – DOE Predicts $102/Barrel Oil, $3.87/Gallon Diesel for 2011
Although crude oil prices dropped in early may, the U.S. Department of Energy still expects oil markets to tighten through 2012 and predicts that WTI spot prices, which averaged $79 per barrel in 2010, will average $102 per barrel in 2011 and $107 per barrel in 2012….
More
6/8/2011 – Diesel Continues Sliding; Crude Dips Below $100
The pump price of on-highway diesel continued to slide last week, dropping 8 cents nationally to $3.940 per gallon….
More
6/1/2011 – Diesel Continues Falling; Crude Once Again Rising
On-highway diesel prices continued falling last week, although not quite as steeply as the week before.
According to the Energy Information Administration, the national average price fell another 4.9 cents to $3.948. A week earlier prices dropped 6.4 cents nationally. Diesel fuel is still nearly a dollar more expensive than this time last year….
More
5/24/2011 – Diesel Continues Fall; Oil Drops Due to Strengthening Dollar
On-highway diesel prices fell by 6.4 cents nationally, an even larger decrease than last week. National average prices are once again below $4 per gallon, but just barely at $3.997….
More