Diesel prices surge after 5-week decline

For five steady weeks, the national average for diesel has been on the decline, as reported by Transport Topics. As of Sept. 26, the price per gallon was $4.889, reducing to $4.836 on Oct.3. On Oct. 10, the average price rose 38.8 cents to sit at $5.224, according to data collected by the Energy Information Administration.

On Oct. 3, at $4.836 per gallon, diesel prices were the lowest they had been since the beginning of the year where, on Feb. 28, they were reported to be $4.104 per gallon. Only a week later, prices jumped 74.5 cents, a record surge.

The Energy Information Administration collects data on 10 U.S. regions: the East Coast, New England, Central Atlantic, Lower Atlantic, the Midwest, Gulf Coast, Rocky Mountains, West Coast less than California, and California. Diesel prices increased in all 10 regions on Oct. 10. The West Coast less than California saw the highest increase: 45.8 cents. The Midwest followed closely behind with a 45.1 cent increase. In the Lower Atlantic region, diesel prices sit at $5.056 per gallon after an increase of 34 cents. New England witnessed the least drastic uptick at 27.5 cents.

The national average for gasoline prices per gallon also saw an increase of 13 cents, now resting at $3.912 per gallon.

After the Oct. 10 surge, the average price for trucking’s central fuel source costs $1.638 more than it did in October 2021. The Energy Information Administration anticipates diesel prices to lower going into 2023, and average $3.27 per gallon.