Fuel Smarts

Diesel Prices Plateau, Crude Oil Decreases

May 09, 2016

Source: EIA
Source: EIA

The price of diesel fuel plateaued last week, increasing by less than a cent nationally, according to the latest numbers from the Energy Department.

The average price of on-highway diesel fuel increased by 0.5 cents last week, hitting $2.271 per gallon. The price is more than 60 cents cheaper than it was in the same week a year ago.

Price increases by area were negligible in most cases, with the most significant increase occurring in the Rocky Mountain region at 2.2 cents. On the Gulf Coast, which hosts some of the country’s lowest fuel prices, the price of diesel decreased by 0.6 cents.

The average price of regular gasoline fell last week by 2 cents to $2.22 per gallon. The price of a gallon of gas is around 47 cents cheaper that it was 12 months ago.

While prices fell overall, they fluctuated by region, with a 4.7-cent increase coming to the Rocky Mountain region and a 6.7-cent decrease occurring in the Midwest.

The price of crude oil fell on May 9, as markets reacted to reports of increased U.S. oil output and the slowing of fires in Canada which had been threatening oil production in the area, according to a Wall Street Journal report.

With the Fort Murray Fire devastating a large swath of Alberta, Canada. the price of oil initially rose as the fire threatened oil production facilities. The fires have since slowed and do not pose the same threat as they had last week, and the oil markets adjusted on Monday. Also affecting oil prices was a report that oil inventories at a delivery hub in Oklahoma had increased 1.4 million barrels. This increase compounded to the current global oversupply of oil.

Comment On This Story

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


Fleet Management And Leasing

Jack Firriolo from Merchants will answer your questions and challenges

View All


Public Fleet Tracking And Telematics

Amin Amini from Verizon Connect will answer your questions and challenges

View All


Fuel Management

Bernie Kanavagh from WEX will answer your questions and challenges

View All


Recent Topics

We are in process of auditing different departments for underutilized vehicles and have already come across vehicles that we need to...

View Topic

would anyone be willing to share there salary ranges for equip tech I thru III, and a welder salary range also

View Topic

Fleet Documents

1117 Fleet Documents (and counting) to Download!

Sponsored by

Larry Starr was the founder of Consolidated Service Corporation (CSC).

Read more