Diesel prices in the U.S. jumped up more than 5 cents for the second time in three weeks, a sign of increasing volatility of fuel costs.
Prices rose for the fifth straight week, climbing 5.4 cents to an average cost per gallon of $3.850 in the week ending Aug. 6, according to the U.S. Energy Information Administration. The average cost of diesel jumped 8.8 cents in the week ending July 23.
Diesel prices rose across the country, with the Rocky Mountain region seeing the sharpest increase of 8.4 cents to $3.813. Diesel remains under $4 a gallon on average in all regions.
Crude oil for September delivery jumped 80 cents to $92.20 a barrel on the New York Mercantile Exchange. Investor confidence hit a more than two-week high on a weaker U.S. dollar, according to the Wall Street Journal.