Trucker 1043 Fuel Island 1216 2

Diesel price climbs again, up nearly a nickel

Jan. 4, 2017
A fifth consecutive increase in the price of diesel has pushed fuel prices to a level not seen the summer of 2015, and the demand for winter heating fuel along with planned global crude oil production cuts mean diesel prices could continue to rise.

A fifth consecutive increase in the price of diesel has pushed fuel prices to a level not seen the summer of 2015, and the demand for winter heating fuel along with planned global crude oil production cuts mean diesel prices could continue to rise.

The average U.S. retail pump price for diesel climbed 4.6 cents in the Jan. 2 report by the Energy Information Administration (EIA), to $2.586 per gallon. That’s 37.5 cents higher than a year ago and the highest price since the Aug. 17, 2015 report.

Prices were up in every region, including almost more than a nickel, on average, on the East Coast, coming in at $2.665 in New England, $2.776 in the Central Atlantic, and $2.514 in the Lower Atlantic.

The Midwest posted a gain of 5.1 cents ($2.54), and diesel was up 1.9 cents in the Rocky Mountains ($2.535).

On the West Coast, less California, diesel registered a 3-cent increase to $2.757. In California, the price rose 5 cents to $2.921, the highest price in the lower 48 states.

Diesel on the Gulf Coast was up 3 cents to $2.451—still the lowest price for a gallon in the country.

The national average price for gasoline rose 6.8 cents for the week, to $2.377. That’s 34.9 cents higher than last year.

To put upward pressure on oil prices, the Organization of the Petroleum Exporting Countries (OPEC) is expected to slash production and reduce the global oversupply of crude that has persisted for nearly two years.

About the Author

Kevin Jones | Editor

Kevin has served as editor-in-chief of Trailer/Body Builders magazine since 2017—just the third editor in the magazine’s 60 years. He is also editorial director for Endeavor Business Media’s Commercial Vehicle group, which includes FleetOwner, Bulk Transporter, Refrigerated Transporter, American Trucker, and Fleet Maintenance magazines and websites.

Working from Little Rock, Kevin has covered trucking and manufacturing for 15 years. His writing and commentary about the trucking industry and, previously, business and government, has been recognized with numerous state, regional, and national journalism awards.

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