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Diesel Jumps 8.7¢ to $3.943 a Gallon; Gas Gains for Seventh Time in Eight Weeks

2/14/2012 11:45:00 AM
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Tom Biery/Trans Pixs

Diesel jumped 8.7 cents to $3.943 a gallon, its fifth increase in six weeks, while gasoline rose for the seventh time in eight weeks, the Department of Energy said Monday.

Gas gained 4.1 cents to $3.523 a gallon, DOE said following its weekly surveys of filling stations.

The diesel increase left it 40.9 cents higher than the same week a year ago, while gasoline is now 38.3 cents over a year ago, DOE records showed.

Diesel — which has risen three straight weeks — has posted a net gain of 16 cents in the past six weeks, following a cumulative drop of 22.7 cents in the previous six weeks.

Gas has risen almost 30 cents in two months of steady increases. Monday marked its third straight gain, each of which was at least 4 cents.

Monday’s diesel price is the highest since trucking’s main fuel registered $3,964 per gallon on Nov. 28, while gas is at its highest level since it was $3.601 on Sept. 19.

Oil rose $2.24 Monday to finish the trading day at $100.91 a barrel on the New York Mercantile Exchange — the first time crude has closed over $100 since Jan. 19, Bloomberg reported.

Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price.

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Emil Estafanous, CPA, CFF, CGMA