Diesel, Gasoline Prices Increase Over Past Week, Oil Higher

by Evan Lockridge

The average price of diesel fuel has edged higher over the past week, but remains well below the level from a year ago.

New figures released this week from price data provider Kent Group shows it’s at $1.11 per liter, up 0.3 cent from last week. The price is based on a 10-city average.

Compared to this week a year ago the price is 29.4 cents less.

Prices this week in major trucking centers range from 95.5 cents per liter in Edmonton, 97.8 cents in Winnipeg, $1.102 in Kamloops, $1.124 in Toronto to $1.142 in Moncton.

The national average price of regular grade gasoline also followed the same pattern, but increasing even more by 1.7 cents to $1.114 per liter. It is 28.4 cents less than during this week last year.

Meantime, south of the border, the average U.S. cost of on-highway diesel moved higher this week for the second straight week.

The U.S. Energy Department reports it increased 3.1 U.S. cents to U.S.$2.811 per gallon. This follows diesel falling for five consecutive weeks, when it lost a total of 19 U.S cents.

This week’s price is still U.S.$1.164 lower than the same time a year earlier.

Diesel now ranges from a low of U.S.$2.683 in the Gulf Coast region to as high of U.S.$3.11 in the Central Atlantic states.

Meantime, the average cost of regular grade gasoline posted an even larger increase than diesel over the past week, 8.5 U.S. cents, registering U.S.$2.57 per gallon, its highest level since early December.

Compared to this time a year ago gasoline is still U.S.$1.143 less per gallon.

The expectation is fuel prices are going to head even higher following reports on Wednesday that both Brent and U.S. crude are at their highest levels in more than four months. 

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