Average diesel price surges 9.1 cents

With tensions related to Iran driving up the price of crude oil, the price of diesel has soared 19.5 cents in the past three weeks — the most in any three-week period since exactly a year ago during unrest in North Africa and the Middle East. The average retail price of a gallon of on-highway diesel jumped 9.1 cents to $4.051 a gallon during the week ended Monday, Feb. 27, according to the U.S. Department of Energy’s Energy Information Administration. The average price is now the highest since mid-May 2011 and only the second time since then that the price has topped $4 a gallon. The latest price is 33.5 cents higher than the same week last year.

Prices rose in all regions, led by a 17.3-cent jump on the West Coast (excluding California). The smallest increase was 6 cents in New England. The nation’s least expensive diesel, on average, is $3.914 a gallon in the Midwest. The Gulf Coast and the Rocky Mountain regions are the only other places where the average price remains less than $4 on average. The most expensive diesel on average is in California at $4.41.

Complete diesel price information is available on EIA’s Website.

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