THE NUMBER 1 RESOURCE FOR VOCATIONAL TRUCK FLEETS
Despite tensions in the Middle East, average diesel fuel prices last week dropped almost 2 cents from the week before, although they’re still 71 cents higher than a year earlier.
Expected prices for trucking’s primary fuel as well as for gasoline have been revised higher, due largely to anticipated higher prices for crude oil, according to a new Energy Department report.
The national price of diesel fuel dropped by $0.003 the week of January 22 compared to the previous week but has increased by $0.456 compared to one year ago, according to the U.S. Energy Information Administration (EIA).
The outlook for national average on-highway diesel prices is for them to be higher this year and in 2019 than they were last year and in 2016, but they should at least be fairly stable during this time, according to the latest Short Term Energy Outlook from the U.S. Energy Department.
AAA Travel projects that 50.9 million Americans will travel 50 miles or more away from home this Thanksgiving holiday weekend, an increase of 1.6 million travelers compared with last year. Car rental rates will hit a five-year holiday high at $70 per day.
The price of diesel fuel in the U.S. increased to its highest point since June of 2015. Crude oil prices also experienced a similar spike after news broke of a corruption scandal in Saudi Arabia.
Hurricane Irma's late shift to the west seems to have spared Florida the worst of the storm, but even with reduced impact, its effects are widespread.
As a result of the flood damage caused by Hurricane Harvey, fuel prices are rising across the country – but curiously, crude oil prices have dropped at the same time.
Hurricane Harvey, whose heavy rains brought devastating flooding to Houston and much of south Texas, may yet cause more trouble for the region-- the National Weather Service predicting an additional 25 inches of rain through the end of the week in certain areas.
Lower than earlier forecast crude oil prices are expected to translate into continued low prices at the pumps for both diesel and gasoline, according to a new U.S. Energy Department report.