Prices up, but oil starting to fall
According to information provided by the Energy Information Administration (EIA), average U.S. diesel prices increased 3 cents per gallon for the week of July 14, although falling crude oil prices may lead to help in the near future.
The U.S. national diesel average of $4.76 is nearly two dollars more per gallon than the $2.89 per gallon recorded one year ago. However, according to the Wall Street Journal, crude oil futures fell $6.29 yesterday, the biggest single-day loss in dollar terms since 1991.
In addition, the Wall Street Journal reported, trading of light, sweet crude for August delivery traded today at $133.30 per barrel on the New York Mercantile Exchange, $5.44 lower than yesterday’s prices.