The cost of a gallon of diesel fuel is soaring even as regular gas prices fall, putting new pressures on U.S. shipping and consumer prices.
The national average for diesel hit $4.54 this week, up nearly $1 from a year ago, according to the latest data from the Energy Information Administration (EIA). In California, where diesel averages a nation-high $5.44 a gallon, prices are up about 70 cents.
By comparison, the EIA found regular gasoline hit $3.25 a gallon on Monday, down more than 3 cents from last year.
“Higher fuel prices absolutely mean higher costs for transportation, which increases the costs of consumer goods,” said Louis Campion, president of the Maryland Motor Truck Association, a trucking industry group.