During the week ending June 6, the U.S. average diesel fuel price increased by 16.4 cents from the previous week to $5.703 per gallon.
Up 242.9 cents from the same week last year, this week’s price surpassed by 8 cents the previous record of $5.623 per gallon set on May 9.
The current spike follows three consecutive weeks of decline during which the diesel price fell by 8.4 cents per gallon.
This week’s price increase is the fourth-largest increase of the year behind the prior increases of 74.5 cents (March 7), 40.1 cents (March 14) and 34.9 cents (May 2).
In the key grain-producing states of the Midwest, the diesel price rose 22.1 cents per gallon to $5.468 per gallon, which was 224.6 cents above the same week last year.