LITTLE ROCK — It’s been a week of ups and downs for the average price of diesel fuel across the U.S.
On April 17, after 10 straight weeks of declines, the price went up to $4.116 per gallon.
Now, as of April 24, the price is down again, according to the Energy Information Administration (EIA), which lists a price of $4.077 per gallon on average.
This news comes as Russia is joining in with Saudi Arabia by extending its oil production cuts for the rest of the year, which has some economists worried that fuel prices will rise as a result.
In theory, less oil flowing to refineries should mean higher gasoline and diesel prices for drivers and could boost the inflation hitting the U.S. and Europe. And that may also help Russia weather Western sanctions over its invasion of Ukraine at the expense of the U.S.
For now, however, diesel prices remain down slightly across the U.S., except in the Rocky Mountain and West Coast regions.
EIA statistics show that diesel prices have risen in the Rocky Mountain area from $4.104 on April 17 to $4.459 on April 24.
On the West Coast, prices have risen to $4.459 on April 24, up from $4.456 on April 17.
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.