Tuesday, January 23, 2018

National on-highway diesel up 7 cents a gallon to $2.973


Tuesday, January 2, 2018
by DOROTHY COX/The Trucker Staff

Gasoline and oil prices had been going up so it was time for diesel to join the crowd. But as diesel was going up, oil prices were going back down on the old seesaw.
Gasoline and oil prices had been going up so it was time for diesel to join the crowd. But as diesel was going up, oil prices were going back down on the old seesaw.

Diesel prices went up in all of the Energy Information Administration’s 10 reporting sectors Monday as a large swath of the country was encased in icy temperatures 10 to 20 degrees below normal.

The national on-highway diesel average was 7 cents a gallon higher — to $2.973 a gallon — from $2.903 last week.

Prices increased the least in the Rocky Mountain sector, up 3.3 cents a gallon to $2.981 from $2.948 the week before. They went up the most (8.3 cents a gallon) in the Central Atlantic region, from $3.068 the last week of December to $3.151 on Monday. Prices were reported Tuesday because of the New Year’s holiday.

Truckers in California are still paying the most for diesel; it’s on its way there to $4 a gallon at $3.590, and the Gulf Coast area still has the cheapest diesel at $2.774, although that was up 6.6 cents a gallon from last week.

Gasoline and oil prices had been going up so it was time for diesel to join the crowd. But as diesel was going up, oil prices were going back down on the old seesaw.

Natural gas prices climbed the second day of the new year as cold weather continued its grip but benchmark U.S. crude fell 5 cents to $60.37 a barrel in New York. Brent crude, used to price international oils, fell 30 cents to $66.57 barrel in London.

A rally late in the year sent crude oil to its highest price since June 2015, The Associated Press reported.

In fact, after decreasing nearly 20 percent in the first half of 2017, the spot energy index in the Standard and Poor's (S&P) Goldman Sachs Commodity Index (GSCI) ended 2017 16 percent higher than the beginning of the year.

Higher crude oil and petroleum product prices in the second half of 2017 were responsible for the increase in the S&P GSCI energy index, said EIA.

 For more on diesel by region click here.

 

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