EIA: U.S. Retail Diesel Prices Up 9.4cts on Week

SECAUCUS, NJ (DTN) — The U.S. Energy Information Administration reported Monday that retail diesel prices jumped 9.4 cents on the week to $3.379 a gallon, though still 5.9cts below year-ago levels.

The national average diesel price has not been higher since mid-December, when it stood at $3.384 gallon.

The past weekend saw more than a foot of snow dumped in some areas of the Midwest and Northeast during Winter Storm Fern. Bitterly cold temperatures are expected to have boosted heating demand and contributed to price increase.

California diesel prices edged up 7.6cts on the week to $4.326 gallon, while dipping by 3.0cts from a year earlier.

Gulf Coast diesel prices jumped 9.0cts to $3.101 gallon, while falling by 11.5cts on the year.

East Coast diesel prices climbed 9.9cts to $3.477 gallon, though down 3.8cts from a year ago.

Midwest diesel prices surged 13.4cts on the week to $3.378 gallon, while sliding by 3.2cts on the year.

Rocky Mountain diesel prices increased 12.1cts to $3.387 gallon, while dropping by 3.5cts from a year earlier.

On a four-week rolling average basis, which smooths out weekly volatility, weekly average diesel prices climbed by 7.7cts to $3.325 gallon, though remaining 5.3cts below year-ago levels due to ample refining capacity and steady supply.

The four-week average for California diesel prices increased by 6.4cts on the week to $4.287 gallon, while slipping 6.4cts on the year.

Gulf Coast diesel prices on a four-week basis jumped 8.9cts to $3.058 gallon, while falling by 10.8cts from a year ago.

The four-week average for diesel prices in the West Coast region excluding California increased by 16.2cts – the most for the week – to $3.595 gallon, while declining by 0.5ct on the year.