106790704 Vitpho | Dreamstime
Archive Fuel Image 63d94b0fbf631

Diesel average up again—but only slightly

Feb. 1, 2023
National average for trucking’s main fuel is up just 1.8 cents to $4.622 per gallon for the week of Jan. 30, but the increase marks the second in two weeks and the third in a young 2023. Prices also are up again in every region of the U.S.

The increase in the U.S. average for diesel fuel wasn’t as severe for the week of Jan. 30—just 1.8 cents to $4.622 per gallon—but trucking’s main fuel did rise for the second week in a row and for the third time in the new year, leaving the average almost 78 cents over the level of a year ago.

This week’s rise in diesel nationwide follows an 8-cent increase for the week of Jan. 23, which followed a week when diesel was down slightly, 2.5 cents, according to new U.S. Energy Information Administration (EIA). Motor club AAA, meanwhile, has its diesel average for the U.S. up 4.2 cents to $4.678 per gallon, and AAA's daily average had been trending up all week.

See also: Take the fork in the road to zero

So, increases for diesel (and gas) all around, in every region of the U.S., according to EIA. Gasoline, EIA reported for the week of Jan. 30, also is up 7.4 cents to $3.489 and is now 12.1 cents above the average for that fuel of a year ago. Gas, used by some commercial fleets and widely by consumers, had fallen below the year-ago mark for several weeks to close out 2022, but has since headed in the opposite direction.

Regional increases on par with national rise

Diesel escalation in several U.S. regions exceeded the national average for the week of Jan. 30, EIA also reported. Along the traditionally most expensive West Coast, the price of trucking’s main fuel rose 3.1 cents to $5.126 per gallon. It wasn’t far behind along the opposite coast, where the fuel rose on the East Coast by 2.5 cents to $4.835. On the Gulf Coast, diesel surged, 3.1 cents to $4.351. Elsewhere, in the Midwest and the Rocky Mountain region, the fuel was flat or up less than a penny.

There was one lonely decrease in diesel in one EIA subregion, the Central Atlantic, where the fuel was down 1.2 cents to $5.057, one of two subregions on the East Coast where diesel still is above $5 per gallon.

Stabilization ahead for oil prices

Stable oil prices traditionally mean predictable patterns for distillates such as diesel, so the outlook for the fuel might mean stable or slightly elevated or slightly lower prices for the new year, barring market-shocking events such as the Russian invasion of Ukraine early last spring.

EIA is predicting that oil prices should stay stable in 2023—and below the levels of 2022, when West Texas Intermediate Crude, for example, averaged about $95 per barrel. WTI sat as January ended today at about $78 per barrel. U.S. oil production also is expected to rise again this year—and may even set a new annual production record, despite inventories that have trended down. So diesel remains high historically but tenuously stable.

About the Author

Scott Achelpohl | Managing Editor

I'm back to the trucking and transportation track of my career after some time away freelancing and working to cover the branches of the U.S. military, specifically the U.S. Navy, U.S. Marine Corps, and the U.S. Coast Guard. I'm a graduate of the University of Kansas and the William Allen White School of Journalism there with several years of experience inside and outside business-to-business journalism. I'm a wordsmith by nature, and I edit FleetOwner magazine and our website as well as report and write all kinds of news that affects trucking and transportation.

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Leveraging telematics to get the most from insurance

Fleet owners are quickly adopting telematics as part of their risk mitigation strategy. Here’s why.

Reliable EV Charging Solution for Last-Mile Delivery Fleets

Selecting the right EV charging infrastructure and the right partner to best solve your needs are critical. Learn which solution PepsiCo is choosing to power their fleet and help...

Overcoming Common Roadblocks Associated with Fleet Electrification at Scale

Fleets in the United States, are increasingly transitioning from internal combustion engine vehicles to electric vehicles. While this shift presents challenges, there are strategies...

Report: The 2024 State of Heavy-Duty Repair

From capitalizing on the latest revenue trends to implementing strategic financial planning—this report serves as a roadmap for navigating the challenges and opportunities of ...