Diesel Prices Keep Rising Into the New Year

Diesel Prices Keep Rising Into the New Year

The year ended with diesel prices up fairly significantly, and that trend has continued, but the increase is much less this week than last. Diesel prices are up less to $3.91 this week from $3.903 last week, according to the U.S. Energy Information Administration (EIA). The average U.S. price is just $0.001 less than at this time last year.

East Coast
The increase on the East Coast was the same as that in the United States as a whole. Prices increased from $3.943 to $3.950. Prices in the East Coast are down more than five cents from this time last year.

New England
Prices rose a bit in New England, from $4.111 to $4.115, but are no longer the highest in the country. In the span of a year, prices in New England are down nearly four cents.

Central Atlantic
The biggest increase in the country was in the Central Atlantic region where prices rose from $4.016 to $4.046 and are now the third highest prices in the country. Prices are also down more than six cents from this time in 2013, which is the largest year-to-year decrease in the country.

Lower Atlantic
The only region in the country to see a decrease in diesel prices this week was the Lower Atlantic where prices fell from $3.856 to $3.847. Prices are also down in the last year by more than five cents.

The Midwest held basically firm with a slight increase to $3.888 from $3.887. Midwest diesel prices are the second lowest in the country. Since this time last year, though, diesel prices are up about two cents.

Gulf Coast
The cheapest diesel in the country is in the Gulf Coast region, but prices still rose by more than a penny from $3.789 to $3.802. Prices are down in the region, however, in the last year by 3.5 cents.

Rocky Mountain
The Rocky Mountain region featured the lowest prices in the country for a good chunk of 2013, but are now middle of the pack and saw an increase from last week to $3.901 from $3.889. The big change in the Rocky Mountain region is year-to-year where prices have risen more than 21 cents since early January of 2013.

West Coast
Prices on the West Coast continued to rise this week from $4.025 to $4.034. In the last year, prices have jumped by nearly five cents.

West Coast less California
The West Coast without California featured only a slight increase in diesel prices from $3.930 to $3.934, and is just under two cents more than at this time in 2013.

The title of most expensive diesel in the country is back to California, which saw an increase from $4.104 to $4.119 and is now currently more than seven cents more expensive than at this time in 2013.

The short-term energy outlook from the EIA is predicting diesel prices to average $3.77 in 2014. In order for that to happen, prices will have to begin dropping pretty quickly and we could be in for a significant decline later in the year in order to reach that projection.

U.S. Diesel Prices, Week of 1/6

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