Diesel prices have hit their highest point since 2014. Prices have been rising across the country and have finally topped $4 per gallon in some areas.
At an average price of $3.313 nationwide, we’re still nowhere near the high of $4.703 back in July of 2008. But we’re also a far cry from the recent low under $2 a gallon in February of 2016.
This recent spike was reached after an increase of $.042 in just the past week. We’re up $.521 from only a year ago, and still climbing. Oil futures are still rising, which means it’s likely that prices will continue to climb.
Rising prices are due in part to anxiety over the White House’s relationship with the middle east. High oil producing OPEC nations have been targeted by President Trump on Twitter, making markets nervous. The cost of diesel has increased by $.94 per gallon since President Trump announced the withdrawal from the Iran Nuclear deal and new sanctions against Iran.
That being said, where you’re buying fuel can make all the difference. In the Gulf Coast for example, diesel is rising, but still at only $3.367 per gallon at the beginning of this week. By comparison, the most expensive region, California, is up to $4.038 per gallon.