Tuesday, February 20, 2018

Diesel prices on the upswing, up 3.2 cents a gallon to $3.028


Tuesday, January 16, 2018
by DOROTHY COX

Prices increased in all 10 reporting sectors, with the Central Atlantic sector increasing 5.4 cents and the Gulf Coast region increasing 4 cents a gallon.
Prices increased in all 10 reporting sectors, with the Central Atlantic sector increasing 5.4 cents and the Gulf Coast region increasing 4 cents a gallon.

The national average on-highway diesel price today increased 3.2 cents a gallon to $3.028, the U.S. Energy Information Administration (EIA) reported today.

That’s from $2.996 last week.

It's the first time since the week ending January 12, 2015, that the average price has exceeded $3 a gallon.

The average price that week was $3.053, but that price was recorded when the price was falling from over $4 a gallon as opposed to the current price, which is on a general uptrend.

Prices increased in all 10 reporting sectors, with the Central Atlantic sector increasing 5.4 cents and the Gulf Coast region increasing 4 cents a gallon.

The report was posted Tuesday instead of Monday because of the Martin Luther King holiday.

California increased the least, only 3 tenths of a cent, although California has the most expensive diesel in the country at $3.641.

The Gulf Coast at 2.825 a gallon has the cheapest diesel.

EIA has predicted that inventories will climb this year, but currently inventories are dropping, Bloomberg reported.

Demand is also looking strong, OPEC officials stated, predicting that demand will grow 1.5 million barrels a day this year, according to news reports.

For more details on diesel costs by region click here.

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