US diesel up to more than $4 a gallon after sixth week of price hikes

IN the United States average diesel prices have increased to more than US$4 per gallon pushed up by a price hike of 6.1 cents in the week ending August 20 - the highest price since May.

The average cost per gallon, $4.026, has gone up for the past six weeks in a row and has risen by more than 5 cents for the fourth time in five weeks, according to figures from the US Energy Information Administration. Compared to a year ago, fuel prices are 21.6 cents higher.

Prices have surpassed the $4 mark in all regions except the east coast's lower Atlantic region and the Gulf Coast. The highest cost increase was seen on the west coast, excluding California, as prices rose by 10.6 cents to $4.184. Nationwide, the highest average price of diesel per gallon is in California, where it costs $4.313.

Crude oil for September delivery declined by 27 cents, or 0.3 per cent, to $95.74 a barrel on the New York Mercantile Exchange, according to the Wall Street Journal. Futures dropped amid concern Germany's central bank would not support the European Union's latest plan to solve the sovereign debt crisis.