Diesel drops as gasoline rises

Diesel drops as gasoline rises

Average national retail fuel prices at the pump moved in different directions this week, according to data tracked by the Energy Information Administration (EIA), with diesel dropping a penny to $3.882 per gallon while gasoline increased 1.2 cents to $3.686 per gallon.

However, prices for both fuels are higher compared to the same week in 2013, with diesel up 4.1 cents per gallon and gasoline up 6 cents per gallon versus last year’s numbers.

EIA noted that diesel prices declined in every region of the U.S. except for the Gulf Coast and West Coast (when California’s pricing is removed from the mix), where prices increased 1/10th of a penny to $3.77 per gallon and 4/10ths of a penny to $3.903 per gallon, respectively.

The Lower Atlantic and East Coast recorded the biggest one-week drop in diesel prices this week, the agency said, falling 2.3 cents to $3.863 per gallon and declining 2.2 cents to $3.961 per gallon, respectively.

Diesel also remained over the $ per gallon mark in three regions this week, EIA added: New England at $4.088 per gallon; the Central Atlantic at $4.052; and California at $4.069.

Gasoline prices increased in every U.S. region this week, jumping the most in the Rocky Mountains (up 2.3 cents to $3.53 per gallon), the Midwest (up 2.2 cents to $3.714) and New England (up 2 cents to $3.743).

There is some worry that escalating violence in Iraq could push up global oil prices – thus potentially leading to fuel prices hikes here in the U.S. – but for now many believe such upward price momentum remains muted at the moment.

TAGS: News
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