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On-highway diesel prices down 1.6 cents a gallon

As usual, disparate forces are pulling crude oil prices (and subsequently diesel prices) alternately up and down.

The Trucker News Services

5/12/2014

There was good news and bad news on the diesel front. The good news was that national on-highway diesel prices were down 1.6 cents today, racking up at $3.948 at the pump, and prices in each of the Energy Information Administration’s 10 reporting regions were down from the week prior as well.

The bad news was that at five reporting sectors, diesel was selling above $4 a gallon: the East Coast at $4.041 a gallon; New England at $4.157 a gallon; the Central Atlantic at $4.156 a gallon; the West Coast at $4.036 a gallon and California at $4.126 a gallon.

As usual, disparate forces are pulling crude oil prices (and subsequently diesel prices) alternately up and down. It’s all about supply and demand. The there is the more it costs and the more there is the less it costs. Of late, a supply disruption was feared  because of unrest in the Ukraine, which drives prices up.

Top global oil exporter Saudi Arabia volunteered to supply more crude in the event of a shortage.

And although China, one of the top consumers in the world, has been stockpiling its crude to better meet its exhaustive needs for oil, its crude imports are still expected to be “robust” during the next few months, which will keep prices bobbing back up as world demand continues.

Brent crude settled up 52 cents at $108.41 a barrel and U.S. crude gained 60 cents to settle at $100.59 a barrel today, so diesel prices will be heading back up soon.

For more details on diesel prices click here.

The Trucker staff can be reached to comment on this article at editor@thetrucker.com.

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