The cost of diesel has been climbing sharply over the past year and forecasts for average diesel prices over the year keep going up as well. On average in the U.S. right now, a gallon of diesel is going to cost you $3.17.
According to the Energy Information Administration, the price for a gallon of diesel is up over $3 in every region in the U.S. except for the Gulf Coast. At a national average of $3.17 on Monday, that’s 60.6 cents more per gallon than the same week in 2017. That’s a 23.6% increase.
It’s not just diesel. Gasoline is up as well – though not as sharply. Both are up because of the increases in crude oil prices which the EIA attributes to strong global economic growth signals, falling global oil inventories, and heightened market perceptions of geopolitical risks.
That last item is what some analysts are concerned could cause further increases in prices. With the announcement that the United States would be pulling out of the Iran deal this week, big bank analysts are increasing their cost estimates. Bank of America analysts are now estimating that the price of a barrel of oil could top $100 next year – an increase of around 30% from right now.
The price increases are currently just estimates, but even the EIA’s cost forecasts for average diesel price in 2018 is up 6.4% from where it was just a month ago.
Source: fleetowner, gobytrucknews, 1380kcim, ccj, trucker, eia, truckinginfo, oilprice, oilprice
They’re just gouging. We’re off the Saudi oil titty, yet prices just keep going up. I live in the Straits of Michigan where gas gouging is strong (thanks Blarney Castle Monopoly), and there’s no excuse. The fat cats just want to keep a certain profit margin to fluff their retirement funds. On top of that, states keep insisting that gas taxes is necessary for their “infrastructure plans” which never get done. If they really want to stimulate the economy, drop the gas and diesel price by a dollar.
Canadian imports on the rise… https://www.eia.gov/todayinenergy/detail.php?id=36032
And EXPORTS by the US have increased…
https://www.eia.gov/todayinenergy/detail.php?id=35352
You’re a smart man. The price of gas and diesel is driving everything. In my hometown, people had started back going to the movies, out to eat, traveling. Now they are laying people off. I’ll bet Disney World looks like a ghost town.
Don’t guess they include CA in their study. From 3.999 in Santa Maria to 4.049 in Palm Springs. Like the man said… gouging!
The only thing that we as owner-operators and companies can do is stick together and get the freight rates up that’s what we need to do to overset this High gouging of gas and diesel prices
Yes that is right as one we unite and we hold the cards with a shortage of truck and drivers it’s time for us
Yes I’m in California right now 4.19 a gallon from now on I’m out of here! I say Bull Crap!
Good time to demand 30cents more for freight!
Well that s a bit cheaper then the $6.02 for a Canadian gallon of diesel but still ridicules either way. Making it 45 cents a mile for fuel alone wow anyway everyone let’s keep the rates up to where we can make a living and even a profit. The ball is in our court as we are in a position to dictate the rates and we should. Keep smiling and be safe maybe see ya down the road all. Viking canuck.
I Guess that Tesla truck starting to look good😯
Just a few months ago they were talking about how much fuel was being pumped and they were worried about flooding the market. Now we don’t have enough. It’s all excuses. Politics shouldn’t be a reason since we make enough in the US to be self sufficient. There should be some kind of cap they can put on fuel.
Gouging , its more like RAPPING us . Between all the regulations on us to all the crazy 4 wheelers that think we can maneuver like an indy car and stop on a dime in the blink if an eye , i won’t mention the tanker yankers that lose their jobs for roll over because of ding bats . Diesel fuel is what’s left over from gas production. so it cost them nothing to make . So its a far cry from gouging. We should stage some kind of a boycott against all of the big truck stops !!! You can go to a speedway , Thorntons , or a mom and pop place and save .20 cents or more per gallon less than 10 miles from one of the big boys is bull carp. Leprechaun out!
As a O/O I refuse to haul freight to places like California because of fuel prices and low freight rates coming back out.
Real simple shut OPEC down and start using our own recourses. If we would export OPEC oil in place of ours, and use our oil for us. We would probably see fuel prices plummet to prices a lot people haven’t seen in their lifetime. That mean stepping on big oil companies feet, that like draining the swamp, easier said than done. So you and I will continue forward cost to consumers and hope we don’t live to see the disaster that going to erupt in the end of it all.
Its funny fuel prices go up and all we can say is raise rates. Not the solution to the problem. If rates go to high consumer’s won’t order which mean less freight being moved. It would be better to get the prices down so that everyone can afford to live,work and enjoy life. Its a package deal. One the things that we as drivers fail to relieve that in getting the rates way out to compensate for these ridiculous fuel prices all hurt our family and friends. So lets work more to go after the fat cats and government that use us as their blame on group. So please let’s fight them and not the consumer.