National Diesel Fuel Price Jumps 3.7 Cents To $1.37
The national average price for a gallon of diesel fuel rose 3.7 cents last week to $1.37, a move reminiscent of last year. Seasonal factors typical of the fourth quarter will likely increase prices. Over the last two weeks, the price of trucking’s main fuel has risen 6.7 cents, the largest two-week rise since Aug. 20 - Sept. 3, 2001, when the price rose 9.4 cents. Gasoline, another major fuel for the trucking industry, had its average price rise 1.1 cents a gallon to $1.403. Rising fuel prices can cut into the profits of trucking companies. The increase pushed the price to its highest point since Oct. 8, 2001, when it was $1.371. The price rose at least 2.1 cents in each of the geographic regions that the DOE’s Energy Information Administration surveys. The largest gains were made in the Midwest and along the Gulf Coast, where price rose 4.5 and 4.1 cents, respectively. Only the New England section of the East Coast region did not see a significant price spike, rising only 0.2 cent.