The average retail diesel price rose four cents to $1.437 per gal during the past week, reaching the highest level since February 26. The price rose in all U.S. regions for a third consecutive week, according to a government survey of 350 fueling stations that was released yesterday.
California had the highest price with an average of $1.614, while the Gulf Coast region had the lowest per-gallon average of $1.367.
OPEC cut 1.5 million barrels of oil per day starting April 1 to keep prices above $25 per gallon. OPEC officials said Sunday that oil prices are stable, and a production cut was unlikely to be made before its next meeting June 5.