Weekly retail on-highway U.S. diesel prices broke through the $4 barrier again, at $4.022 per gallon on February 4. Diesel prices have risen in each of the last three weeks, gaining about 13 cents. Diesel was above $4 beginning 2/27/12 for 12 straight weeks and was back over $4 for 12 weeks through 11/5 and then another 2 weeks at the end of November. The recent low price point for diesel was $2.023 on March 16, 2009. A view of weekly prices over the last 4 years shows higher prices in each year over the preceding year (second graph) with the exception of about 16 weeks in mid-2012 when prices were at or slightly below prior-year levels and again for a few weeks in Q4 when prices were equivalent to 2011. Diesel prices peaked at $4.771 per gallon in July of 2008 and were above $3 per gallon from September 24, 2007 to November 3, 2008 (13 months). Prices have been back over $3 since October 4, 2010 (28 months). In 2008, diesel exceeded $4 per gallon for 23 straight weeks, compared with 6 straight weeks early in 2011 and 26 weeks in 2012.
