Mark Szakonyi, Associate Editor | Jul 24, 2012 11:15AM EDT
Diesel prices in the U.S. rose at the fastest pace since late February, jumping 8.8 cents in the week ending July 23 as oil prices finished Monday trading at their lowest point in four days.
The average cost per gallon of diesel, $3.783, has risen for the past three weeks but is down 16.6 cents from a year ago, according to the U.S. Energy Information Administration. The average price of diesel is the exact same price of fuel as at the beginning of the year.
Diesel prices rose across the country, with the West Coast seeing the largest gain of 9.8 cents to $3.901 per gallon. The average price in all regions remains under $4 per gallon.
Crude oil for September delivery fell $3.69 to $88.14 per barrel on the New York Mercantile Exchange. A slowing Chinese economy and the continued eurozone crisis fueled investor pessimism.
Contact Mark Szakonyi at mszakonyi@joc.com. Follow him on Twitter @szakonyi_joc.