Diesel prices continue skyward

March 11, 2008
Diesel prices averaged $3.82 for the week of March 10, up $0.16 from a week earlier

Diesel prices averaged $3.82 for the week of March 10, up $0.16 from a week earlier, according to data compiled by the U.S. Energy Information Administration. The average price has risen $0.54 in the past four weeks, up from $3.28 on Feb. 11.

Prices in some regions of the U.S., especially in the Northeast, are close to hitting an average of four dollars a gallon. The Central Atlantic region is averaging $3.99 per gallon, up from $2.72 one year ago today.

“Diesel is a runaway train right now,” Denton Cinquegrana, markets editor for the Oil Price Information Service (OPIS), told FleetOwner. “I really don’t know for sure when the sharp increases will stop.”

However, Cinquegrana added that he thinks the increases should level off sometime in the near future--because it’s hard to imagine them rising much higher. He said that the main reason for the rise is the price of crude oil, which hit an all-time high of $108 per barrel this week.
About the Author

Justin Carretta

Voice your opinion!

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

Sponsored Recommendations

Boost truck leasing profits with telematics insights! Reduce maintenance costs, improve uptime, and strengthen customer relationships. Learn how data drives success.
This free guide outlines simple steps for hiring and onboarding commercial drivers while ensuring that you meet Regulation Part 391 and maintain fully compliant driver qualification...
Ready to boost fleet efficiency by up to 50%? Learn how AI-powered dispatch and next-gen tech are transforming TMS workflows, improving driver planning, and streamlining operations...
Gain a strategic edge in today’s evolving fleet landscape. Join us to explore how fuel cards are helping fleet managers cut costs, enhance control, and prepare for an electrified...