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The U.S. average retail price of diesel rose 1.6 cents to $2.507 as crude climbed later in the week of July 24 to its highest price in nearly two months and Saudi Arabia announced it would make additional cuts in oil production, experts said.

The U.S. average retail price of diesel rose 1.6 cents to $2.507 as crude prices inched up toward $47 a barrel after Saudi Arabia said it would make additional cuts in its own production.

The U.S. average diesel price has risen a cent to $2.491, the Department of Energy said July 17. The fuel has increased 2.6 cents over three weeks.

The U.S. average retail price of diesel rose 0.9 cent to $2.481, while oil prices failed to reclaim ground after a sharp drop a week earlier.