Diesel prices head up to start 2018, reports EIA

Due in large part to cold weather throughout many parts of the country, the average price per gallon of diesel gasoline saw a significant increase this week, according to data issued by the Department of Energy’s Energy Information Administration (EIA).

Rising 7 cents, the average price per gallon currently stands at $2.973, which marks the single largest weekly gain since the week of November 6, when it rose 6.3 cents from $2.819 to $2.882.

This marks the second straight weekly gain, coming off of a 0.2-cent gain from December 18 to December 25. These recent gains were preceded by a four-week stretch of declines, which saw the average price per gallon drop a cumulative 2.5 cents from $2.926 the week of November 27 to $2.901 the week of December 18.

On an annual basis, this week’s diesel average is up 38.7 cents annually. The average price per barrel of WTI Crude is now at $60.37.