In The News

Diesel Prices Jump For Third Week in a Row

Diesel rose 8.2 cents this week, a jump equal to that of the fuel's decline between Nov. 2 and Dec. 21, according to the Department of Energy. Trucking's main fuel landed at a national average of $2.879 this week, its third consecutive weekly jump.

On Dec. 28, diesel saw its first boost in eight weeks, falling a total of 8.2 cents prior to that. Trucking's main fuel had reached as high as $2.808 on Nov. 2, 2009. This week's average is about 56.5 cents higher than the average during the same week last year, when it was at $2.314.

Diesel got as high as $3 in the New England and Central Atlantic regions, where it averaged $3.068 and $3.026, respectively. The Rocky Mountain and Midwest regions saw the lowest prices, at $2.814 and $2.844, respectively.

Gasoline prices also shot up 8.6 cents to a national average of $2.751 this week. This is almost a dollar above the average during the same week last year.

While oil prices were propped up by China's promising economic data, investors cashed in on their profits from its 15-month high, bringing the price down Monday. Oil settled at $82.52 a barrel Monday on the New York Mercantile Exchange, according to reports by the AFP.

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