Mark Szakonyi | Jul 25, 2011 4:47PM EDT
Diesel prices across the United States increased 2.6 cents in the week ending July 25, rising for the third consecutive week as gridlock over the U.S. debt solution pushed crude oil prices down.
The national average price hit $3.949 a gallon, up $1.030 from the same period a year ago, the U.S. Energy Information Administration said. The West Coast saw the largest increase in diesel prices, up 3.3 cents to $4.038 per gallon.
Diesel prices increased in all sections of the U.S. other than the East Coast’s New England sub-section, where prices were flat at $4.037 a gallon.
Average prices still remain 8.8 cents, or less than 4.2 percent, of the high point this year during the week of May 2 at $4.124 a gallon.
Crude oil for September delivery fell 0.7 percent to $99.20 a barrel by the end of trading Monday on the New York Mercantile Exchange.
Crude oil prices will likely continue to decrease if investors become more confident that Republicans and Democrats won’t reach a deal on the debt ceiling before the Aug. 2 deadline.
-- Contact Mark Szakonyi at mszakonyi@joc.com. Follow him on Twitter @Szakonyi_JOC
