Fuel Management

Diesel Fuel Prices Continue to Trend Higher

December 13, 2016

Source: EIA
Source: EIA

Diesel and gasoline prices were higher for the second week in a row, according to the latest numbers from the Energy Department.  

The average price of on-highway diesel fuel increased 1.3 cents last week, jumping to $2.493 at the pump. Diesel prices are now more than 15 cents higher than they were in the same week a year ago.

The largest increase was in the Central Atlantic region, which saw prices jump by 3.1 cents for the week. The Rocky Mountain region actually saw a small drop in prices during the same period, falling 1 cent.

Average regular gasoline prices were also up last week, increasing 2.8 cents to hit $2.236 at the pump. Gas prices are now nearly 20 cents higher than in the same week of 2015.

The largest increase by region was in the Midwest, where prices jumped 5.5 cents on average. On the West Coast, prices fell by 1.5 cents during the same period.

Crude oil prices are at some of the highest levels since mid-2015 as global markets react to a deal between oil producing countries to freeze or cut production outputs, according to a MarketWatch report.

The deal was made to stabilize and improve an oil market that had been at some of the lowest levels in years. Weaker global demand caused by a slow global economy created an oversupply of crude oil,which drove prices downward.

In November, OPEC finally reached an agreement to cut production and, in recent days, 11 other oil producing countries have agreed to follow suit.

Comment On This Story

Name:  
Email:  
Comment: (Maximum 10000 characters)  
Leave this field empty:
* Please note that every comment is moderated.

FleetFAQ

Public Fleet Tracking And Telematics

Amin Amini from Verizon will answer your questions and challenges

View All

Recent Topics

Hello All, We are developing a formal training program for light and heavy equipment technicians. Our goal is to recruit and train...

View Topic

I have been tasked with implementing a small motor pool here at the City and need help on how to implement and manage it. I have a staff...

View Topic

Fleet Documents

974 Fleet Documents (and counting) to Download!

Sponsored by

Accident management refers to a program wherein the leasing company or fleet management supplier handles some or all aspects of an accident in which a covered vehicle is involved.

Read more

Fuel Saving Strategies Survey

View our 2008 survey to benchmark your fleet's fuel and green strategies with other fleets.
 

Fuel Calculator

A managed fuel program can help you save time and money and gain control over the way you fuel your vehicles. Determine your potential savings by using our fuel calculator.
Launch Fuel Calculator 

Fuel Prices

U.S. Gasoline and Diesel Fuel Prices.

Launch Fuel Prices