U.S. diesel prices rose at the fastest pace since March 2011, jumping 11.5 cents in the week ending Aug. 13 as oil prices slipped.
The average cost per gallon of diesel, $3.965, has risen for the past six weeks and has increased more than 5 cents for the third time in four weeks, according to the U.S. Energy Information Administration. The average cost per gallon is 13 cents higher than a year ago.
Prices rose nationwide, with the cost per gallon rising above the $4 mark in the New England and Central Atlantic regions, along with the West Coast and California. The West Coast excluding California saw the sharpest price increase, with the cost per gallon jumping 19.5 cents to $4.078.
Crude oil for September delivery fell 14 cents to $92.73 on the New York Mercantile Exchange. Investor confidence fell as U.S. equities slipped and on news that the Japanese economy grew only 0.3 percent in the second quarter.