Diesel prices across the United States increased for first time in seven weeks in the week ending Jan. 9, rising 4.5 cents as fading concerns over U.S-Iran tensions pushed oil prices down.
The average $3.827 per gallon left the price up 49.5 cents from the same period a year ago but up 2.7 cents from 12 weeks ago, according to the U.S. Energy Information Administration. The ramp-up in price was the sharpest since the week ending Nov. 21, when prices rose 4.6 cents.
The rise was the steepest in California, where prices rose 6.5 cents to $4.111 a gallon. Despite the uptick in price, the East Coat’s New England region was the only region other than California to see diesel at or above the $4 mark.
Crude oil for February delivery fell 25 cents to $101.31 a barrel on the New York Mercantile Exchange. The decline comes as concerns over Iran’s ability to cut off oil exports recede and the release of a disappointing manufacturing report from Germany.