Diesel Costs Turn Higher for First Time in Weeks

LONDON, ON and WASHINGTON, D.C. — The average price for trucking’s main fuel has posted weekly increases in both Canada and the U.S. for the first time since early this summer.

In Canada diesel gained $0.002 from last week for a national average of $1.033 per liter, according to the petroleum information services provider The Kent Group. This follows 10 consecutive weeks where the price either fell or was unchanged, in which it declined a total of $0.093 per liter.

Despite this week’s gain, diesel is $0.264 per liter less than this time last year and remains at its lowest level in several years.

South of the border, the U.S. Energy Department reported the first week-over-week increase for diesel in 14 weeks, with the average retail price picking up US$0.02 from last week, hitting US$2.534 per gallon.

From late May through the end of August the average U.S. diesel price decreased by US$0.40, registering US$2.514, its lowest price since July 2009.

Compared to a year ago, this week’s price is still US$1.28 per gallon less.

In contrast, average regular grade gasoline prices in both Canada and the U.S. fell over the past week, with the Canadian cost declining $0.017 from last week to $1.089 per liter. Compared to this week last year the price is $0.241 less.

Meantime, in the U.S. the cost of regular grade gasoline fell US$0.073 cents from the week before, marking the third straight weekly drop, hitting US$2.437 per gallon, but is US$1.02 less when compared to this week in 2014.


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