Wednesday, February 21, 2018

Diesel takes hefty increase of 4.5 cents per gallon to $3.070


Monday, January 29, 2018
by DOROTHY COX/The Trucker Staff

The price of crude oil had been going up, and it appears diesel finally is catching up. However, crude fell Monday, and if continues to slide, diesel will decrease as well. (The Trucker file photo)
The price of crude oil had been going up, and it appears diesel finally is catching up. However, crude fell Monday, and if continues to slide, diesel will decrease as well. (The Trucker file photo)

Diesel prices shot up 4 ½ cents per gallon Monday, from $3.025 last week to $3.070 a gallon, the U.S. Energy Information Administration (EIA) reported.

Last week was a mixed bag, with five regions reporting prices had gone down and the other five showing increases.

Monday, however, all 10 of the EIA’s reporting regions saw prices soar, with the Midwest rocketing up 5.9 cents a gallon to $3.030 from $2.971 last week, and the Gulf Coast price shooting up 5.3 cents a gallon to $2.868 a gallon from $2.815 the week prior.

The Gulf Coast, Lower Atlantic and Rocky Mountain reporting sectors are the only areas where diesel is still selling below $3 a gallon, while California, where diesel rang up at $$3.683 Monday, is well on its way to the $4-a-gallon mark.

To see more details on diesel prices by region, click here.

The price of crude oil had been going up, and it appears diesel finally is catching up. However, crude fell Monday, and if continues to slide, diesel will decrease as well.

Benchmark U.S. crude fell 58 cents, or about 1 percent, to settle at $65.56 a barrel on the New York Mercantile Exchange, The Associated Press reported.

Brent crude, used to price international oils, dropped $1.06, or 1.5 percent, to close at $69.46 per barrel. Wholesale gasoline was little changed at $1.93 a gallon. Heating oil slid 3 cents to $2.11 a gallon. Natural gas rose 13 cents, or 3.6 percent, to $3.63 per 1,000 cubic feet.

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