Mark Szakonyi, Associate Editor | Aug 27, 2012 4:32PM EDT
The average cost of diesel in the U.S. rose more than five cents for the fifth time in six weeks, climbing 6.3 cents in the week ending Aug. 27 as oil prices plummeted.
The average cost per gallon, $4.089, has risen for the past seven weeks, according to the U.S. Energy Information Administration. Prices are up 26.9 cents from a year ago.
Prices rose across the nation, with the Gulf Coast being the only region not to see prices hit or rise above $4 per gallon. The West Coast saw the sharpest uptick in prices, with the cost per gallon of diesel jumping 9.8 cents to $4.353.
Crude oil for October delivery fell 68 cents, or 0.7 percent, to $95.47 a barrel on the New York Mercantile Exchange, according to MarketWatch. But gasoline futures shot up 8 percent, or 2.5 percent, to $3.15 a gallon on fears that Tropical Storm Isaac would harm the refinery industry in the Gulf of Mexico.
Contact Mark Szakonyi at mszakonyi@joc.com. Follow him on Twitter @szakonyi_joc.