Image

Diesel prices rise seven cents

March 24, 2009
The average diesel price in the U.S. increased seven cents to $2.09 per gallon for the week of March 23rd, according to the Energy Information Administration, the first time prices have gone up in the past ten weeks

The average diesel price in the U.S. increased seven cents to $2.09 per gallon for the week of March 23rd, according to the Energy Information Administration, the first time prices have gone up in the past ten weeks.

Since reaching its all-time high of $4.76 on July 14th, diesel prices have dropped 34 of the past 36 weeks—staying flat and increasing two cents in the remaining two weeks. The seven cent increase is the largest amount prices have climbed since May 26, 2008. However, the average price is still down nearly two dollars a gallon year-over-year.

The price of a barrel of crude oil has risen more than 30% in the past month, according to the Associated Press, but this week is the first time it has translated to an increase in on-road diesel prices. The price was recorded at $52.91 a barrel this afternoon in electronic trading on the New York Mercantile Exchange.

According to AP, prices rose due to speculation that the U.S. government’s decision to purge ailing banks of up to $1 trillion of uncertain assets could help aid recovery, on top of other factors including a weakening dollar and strong U.S. home sales.

The most expensive area for diesel fuel continues to be New England, where it averaged $2.40 per gallon. The least expensive areas are the Midwest and Rocky Mountain regions, where it averaged $2.04 per gallon.

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

Take Control of Your Finances: A Practical Guide for Carriers in Trucking

This guide is designed to help you navigate these challenges, featuring strategies for automation, examples of effective tools, and a real-world success story from Phoenix Cargo...

Report: The 2024-2025 State Of Heavy-Duty Repair

Fullbay's fifth annual State of Heavy-Duty Repair compiles insights from almost 1,000 experts and over 3,500 shops. If you aren't leveraging these proven data points, your competition...

Guide For Managing Maintenance

The Guide for Managing Maintenance is a comprehensive resource designed to help fleet managers improve their maintenance operations, reduce downtime, and lower overall fleet costs...

The Road Ahead: 2025 Trucking and Fleet Insights

Discover how fleet operators are impacted by challenges like driver onboarding delays and complex compliance, and the critical need for technology to boost efficiency and cut ...