Crude oil is trading around $57/barrel, and U.S. gasoline prices jumped 16 cents/gal. last week, but those increases have not translated to high diesel prices as the weekly average price for a gallon of diesel for the week of May 11 rose just 3 cents from the previous week.
Each region of the country saw an increase in diesel prices last week, with the Gulf Coast and the lower Atlantic posting the largest climbs at 5 and 4 cents, respectively. The Gulf Coast is at $2.20 while the lower Atlantic is at $2.19. New England remains the highest at $2.40 with the Central Atlantic coming in a $2.39. California is $2.34. The Midwest has the cheapest diesel at $2.16/gal.
The price is still 50% lower than a year ago when a gallon of diesel cost $4.50.