Diesel Prices Rise Again After Six Week Decline
National Average Prices 17.2 Cents Higher Than Last Year
Diesel fuel itself may be less chemically volatile than gasoline, but its prices sure aren't. We noted recently in a blog that diesel prices in many areas of Southern California are actually below regular unleaded. But diesel's price decline relative to gasoline may be short-lived.
According to information from the Department of Energy's Energy Information Administration, the national average for a gallon of diesel fuel rose 3.9 cents for the week ending July 15, which followed a 1.1-cent increase the week before. Prior to that increase, the per-gallon average had dropped each week since May 20. The national average per-gallon price for diesel this week of $3.867 is a significant 17.2 cents higher than the average during the same period in 2012.
Unsurprisingly, California led the U.S. with the highest average per-gallon price for diesel at $4.065, with the cheapest diesel being in the Gulf Coast region at $3.798. As we noted in our blog, fuel prices could have a major impact on the launches of several upcoming new diesel models, including the Jeep Grand Cherokee, Ram 1500, Mazda 6 midsize sedan, and Chevrolet Cruze. Those who are aware of the potential long-term fuel savings of diesels will probably buy them regardless, but for impulse-buy consumers, the spot price of diesel when they're making their car buying decision could have a major impact on the initial sales of the new diesel models.