Diesel Leaps Back Up
Fuel shot back up again last week, reacting to Russian oil company sanctions.
National Observations
- Retail diesel prices took a big jump up last week across the country. Prices rose almost 10 cents a gallon on average, reversing many of the decreases of recent weeks.
- The increase is linked to the US government decision to sanction two of Russia's largest oil companies. It is the largest weekly increase since June.
Regional Trends
| Region | Last Week | Weekly Change | |
|---|---|---|---|
| 🗽 East Coast | $3.723 | +$0.048 | |
| 🌾 Midwest | $3.715 | +$0.151 | |
| 🌞 Gulf Coast | $3.350 | +$0.094 | |
| 🏔️ Rocky Mountain | $3.686 | +$0.101 | |
| 🌅 West Coast (not CA) | $4.095 | +$0.087 | |
| 🏄♀️ California | $4.934 | +$0.036 |
Regional Observations
- The biggest regional move was in the Midwest, where prices were up over 15 cents/gallon last week. Rocky Mountain and Gulf Coast regions were closer to 10 cents/gallon.
- The two coasts, where diesel is typically the most expensive, saw the smallest increases. In California, it was just 3.6 cents/gallon and the East Coast was up 4.8 cents/gallon.
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