Is there a diesel fuel shortage? Low diesel stockpiles don't mean the country will run out, but they do mean higher diesel prices, especially in the Northeast where stocks are the lowest and diesel faces competition from fuel oil.
OPEC+ announced a 2-million-barrel-a-day cut in oil production during a meeting on Wednesday, which could send fuel prices back up.
Diesel and crude oil prices are the highest recorded in years as consumption surges in the U.S.
This uptick continues the rising trend we have seen since early November 2020, and has finally eclipsed prices same time last year.
National average diesel fuel prices were $2.80 per gallon as of Feb. 8, 2021, continuing a rising trend seen since early November 2020.
National average diesel fuel prices were $2.67 per gallon as of Jan. 11, according to the U.S. Energy Information Administration.
National average diesel fuel prices were $2.50 per gallon as of Nov. 30, 2020, according to the U.S. Energy Information Administration. This uptick is higher than prices in late June and late August and is reaching peaks not seen since mid April.
National average diesel fuel prices hit $2.43 per gallon as of June 22. This represents a 3-cent rise from the previous week, but overall, prices are still down around 62 cents per gallon compared to same time last year.
National U.S. average diesel prices are down $0.04 from the week prior and $0.61 from one year ago, hitting $2.51 per gallon as of April 13, 2020.
The national average gasoline price increased 4 cents to $2.58 as 2019 comes to a close, a spike attributed to unexpectedly higher road travel during the holidays, according to AAA.
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