Diesel prices moved very little since last week.
After nearly half of the reporting regions saw a slight increase, the other half reported slight decreases which kept the average price at $6.179 per gallon, a slight drop of just two cents per gallon under last week’s $6.199, according to the United States Energy Information Administration’s weekly report.
The price of diesel remained steady despite the fluctuation of oil prices this week.
In its latest reporting on Wednesday, the Associated Press said Brent crude, the international standard, gained 0.6% to $106.37 a barrel Wednesday morning. Benchmark U.S. crude rose 1.2% to $95.30 a barrel.
Brent has been pinballing between $96 and nearly $110 over the last month on uncertainty about when the war with Iran will allow the global energy industry to return to normal.
On Friday, President Donald Trump announced that he had struck a deal with Russian President Vladimir Putin to immediately supply the U.S. more than 300,000 tons of diesel. That would be followed by an additional 500,000 tons in November, then 4 million more tons at some point after that. But energy policy experts say that the new pact is unlikely to make a dent in painfully high prices at the pump or elsewhere.
The price of diesel has shattered records in recent weeks, ratcheting up inflation for a broad swath of consumer goods.
Trump’s announcement came a week after the Group of Seven wealthy democracies said that they plan to release 100 million barrels of oil and fuel products in the coming weeks, starting with “substantial” amounts of diesel.
The largest drop in price came from the Lower Atlantic Region which dropped just a little more than a nickel from $5.699 to $5.645.
The largest jump was three and a half cents which came from the Rocky Mountain Region which rose from $6.267 to $6.302
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
