The national average price of gasoline has increased for 14 days in a row to $2.21 on Dec. 12 after the Organization of Petroleum Exporting Countries (OPEC) agreed to cut oil production.
by Staff
December 13, 2016
Photo via Wikimedia.
1 min to read
Photo via Wikimedia.
The national average price of gasoline has increased for 14 days in a row to $2.21 on Dec. 12 after the Organization of Petroleum Exporting Countries (OPEC) agreed to cut oil production, according to AAA.
The average price increased three cents for the week and two cents on the month. It reached a level that's now 20 cents above the same time a year ago.
Ad Loading...
OPEC plans to reduce output by 1.2 million barrels per day starting in January, which is expected to bring higher prices if all of the countries implement agreed-upon production levels. Iran and Iraq had initially resisted the move.
Average gasoline prices have fallen below $2 per gallon in four states today including Oklahoma ($1.96), Missouri ($1.97), Arkansas ($1.98), and Texas ($1.99).
The largest monthly increases include Michigan (23 cents), Indiana (22 cents), Ohio (21 cents), Illinois (15 cents), Kentucky (13 cents) and Delaware (12 cents).
Prices fell on the West Coast, expect for Hawaii, with the average price for the region falling 1.5 cents to $2.556, according to the U.S. Energy Information Administration. The sharpest increase came in the Midwest, where prices increased 5.5 cents to $2.162.
Meanwhile, the average price of diesel increased 1.3 cents to $2.493. Diesel is now 15.5 cents higher than it was a year ago.
National average jumps to $4.04 per gallon, up sharply from last year, with West Coast prices topping $5 and further increases expected amid rising oil tensions.
With oil prices rising again, AWP Safety’s fleet manager shares how to respond to rising fuel costs and how the right strategy can turn fuel spikes into cost-saving opportunities.
Rapid swings in crude oil prices driven by the conflict in the Middle East could create longer-term cost pressures for fleets, affecting fuel prices, supply chains, and vehicle strategy, says NTEA’s Andrew Wrobel.
48% of field service leaders are investing in AI to manage customer communication and self-service. Get the latest on how fleets are using AI and thinking about the future.
Fleet managers can use the DOE’s 2026 Fuel Economy Guide to benchmark MPG across powertrain types using side-by-side vehicle ratings and compare new model-year options.