The U.S. average retail price of diesel fuel rose 1.4 cents to $3.171 a gallon, the seventh straight week the trucking industry’s main fuel has increased in price, according to the weekly report from the U.S. Department of Energy’s Energy Information Administration released May 7.
Diesel now costs 60.6 cents more per gallon than it did one year ago.
The average price of diesel rose last week in all regions nationwide. California remained the most expensive place to buy diesel, with a gallon going for $3.863, followed by the West Coast at $3.640. California has seen a gallon of diesel increase 93.6 cents in the past 12 months. The Gulf Coast had the lowest price at $2.955 a gallon, EIA reported.
Gasoline fell a tad, dropping from an average price of $2.846 a gallon April 30 to $2.845 on May 7. The average price of a gallon of regular gas has gone up 43.5 cents from one year ago.
Projections on fuel prices for the rest of this year were quickly revised upward by EIA, and futures traded higher after President Donald Trump’s decision to take the United States out of the 2015 international accord with Iran.