US Retail Diesel Prices Rise for First Time in Two Months, Hitting $4.98 a Gallon
- Increase brings 62-day streak of price declines to an end
- National stockpiles are at lowest seasonal level since 2000
A diesel gas pump stands at a gas station.
Photographer: Kuni Takahashi/Bloomberg
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US diesel prices at the pump rose overnight, snapping the longest losing streak in two years as farmers stocked up on the fuel used to harvest crops, competing with truckers for a shrinking pool of supplies.
The country’s average retail diesel price rose to $4.977 a gallon, climbing for the first time since peaking at $5.816 a gallon in mid-June, according to auto club AAA. The increase ends 62 consecutive days of declines. Prices at the pump have risen along with diesel futures contracts, which have gained more than 20% in a little over two weeks.