The national average price for diesel rose 19.8 cents to $5.652 per gallon for the week of August 24, according to data from the Department of Energy's Energy Information Administration. It marked the sixth increase in the last seven weeks and the highest weekly average since the week of May 25, when the price stood at $5.525.
The latest increase followed a nearly identical 19.7 cent jump to $5.454 for the week of August 17. Prices had briefly eased in early August, falling 9.1 cents to $5.257 for the week of August 10, after a 3.5 cent increase to $5.348 the week before that.
Diesel prices have swung sharply through the summer. The week of July 20 brought a 33.8 cent jump to $5.134, one of the largest single week increases EIA has recorded since it began tracking the data. That followed a run of declines in June, when the national average dropped from over $5.35 per gallon to $4.578 by the week of July 6, snapping a 14 week stretch above the $5.00 mark that stretched back to mid March.
On an annual basis, the national average is now up $1.944 per gallon compared with a year ago, the largest year over year increase recorded in recent weekly reports. West Texas Intermediate crude was trading at $82.31 per barrel on the New York Mercantile Exchange at the time of the report, down from $85.00 a week earlier.
For fleets, the renewed climb in diesel prices adds pressure to per mile operating costs at a time when freight rates have only partially recovered from a multiyear downturn.
Source: Logistics Management - https://www.logisticsmgmt.com/article/national_diesel_average_sees_gains_for_the_week_of_august_24_reports_eia