Crude oil is trading around $57/barrel, and U.S. gasoline prices jumped 16 cents/gal. last week, but those increases have not translated to high diesel prices
Crude oil is trading around $57/barrel, and U.S. gasoline prices jumped 16 cents/gal. last week, but those increases have not translated to high diesel prices as the weekly average price for a gallon of diesel for the week of May 11 rose just 3 cents from the previous week.
The $2.22/gal. price is just one cent off the four-week average of $2.21. Gasoline climbed to $2.24/gal. and crude oil was trading down but still remained at $57.81 in mid-morning trading.
Each region of the country saw an increase in diesel prices last week, with the Gulf Coast and the lower Atlantic posting the largest climbs at 5 and 4 cents, respectively. The Gulf Coast is at $2.20 while the lower Atlantic is at $2.19. New England remains the highest at $2.40 with the Central Atlantic coming in a $2.39. California is $2.34. The Midwest has the cheapest diesel at $2.16/gal.
The price is still 50% lower than a year ago when a gallon of diesel cost $4.50.
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Brian Straight
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Brian joined Fleet Owner in May 2008 after spending nearly 14 years as sports editor and then managing editor of several daily newspapers. He and his staff won more than two dozen major writing and editing awards. Responsible for editing, editorial production functions and deadlines.