The weekly DOE/EIA average retail diesel price rose 5.8 cents a gallon Monday to $2.441 a gallon.
That’s the highest one-week increase in prices since September of last year when Hurricane Dorian was impacting oil markets.
The increase also brings the weekly price up to the highest level since Aug. 31 of this year when it was also at $2.441.
Among the broader oil market moves in the past seven to 10 days contributing to the movement in the DOE/EIA price:
— Including the settlement of Monday, the ultra low sulfur diesel price on the CME has risen 8.63 cents a gallon just since the settlement of Friday, Nov. 6. That jump in prices includes two pieces of bullish vaccine news on consecutive Mondays, Nov. 9 and 16.
— The ULSD price on Monday, on the back of strong markets for all asset classes because of the latest vaccine news, rose 2.47 cents per gallon to $1.2289 a gallon.
— West Texas Intermediate crude since the last pre-vaccine settlement of Nov. 6 has climbed to $41.34 a barrel from $37.14.
— The wholesale rack price for ULSD nationally, based on SONAR data, has climbed to $1.384 a gallon on Nov. 16 from $1.347 on Nov. 6.