Mark | Aug 20, 2012 4:49PM EDT
The average cost of diesel in the United States rose to more than $4 per gallon for the first time since May, as prices climbed 6.1 cents in the week ending Aug. 20.
The average cost per gallon, $4.026, has risen for the past six weeks and has increased more than 5 cents for the fourth time in five weeks, according to the U.S. Energy Information Administration. Prices are up 21.6 cents from a year ago.
Prices rose above the $4 mark in all regions except the East Coast’s Lower Atlantic region and the Gulf Coast. The West Coast excluding California saw the sharpest increase in cost, as prices jumped 10.6 cents to $4.184. The average price of diesel per gallon in California, $4.313, led the nation.
Crude oil for September delivery fell 27 cents, or 0.3 percent, to $95.74 a barrel on the New York Mercantile Exchange, according to the Wall Street Journal. Futures fell on concern the central bank of Germany wouldn’t back the European Union’s latest plan to solve the sovereign debt crisis.
Contact Mark Szakonyi at mszakonyi@joc.com. Follow him on Twitter @szakonyi_joc.
