Drivers

Diesel Continues Upward Trend; Oil Rises Alongside U.S. Stocks

March 22, 2010

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Trucking fleets across the country felt the pinch for the fifth week in a row, as national diesel prices inched up 2.2 cents this week.
After the House of Representatives passed the health care reform bill Sunday night, U.S. stocks starting climbing, sending crude oil prices up along with them.
After the House of Representatives passed the health care reform bill Sunday night, U.S. stocks starting climbing, sending crude oil prices up along with them.
Following last week's 2-cent gain, trucking's main fuel settled at a national average of $2.946 a gallon, according to the Department of Energy.

Over the last five weeks, diesel has climbed 19 cents. Prior to the gains, diesel had dropped 12.3 cents over a five-week period. This week's average is 85.6 cents greater than the same week last year.

The Central Atlantic region had the highest prices of the week, averaging $3.079 a gallon. California and New England followed behind with averages of $3.072 and $3.032 a gallon, respectively. The Gulf Coast and Midwest regions saw the lowest averages, at $2.904 and $2.922 a gallon, respectively.

After crude oil slipped below $80 a barrel last week, it's back up this week, propped up by boosts in the U.S. stock market and a weaker dollar, according to reports by Dow Jones. Crude closed trading Monday at $81.25 a barrel on the New York Mercantile Exchange, Dow Jones reports. The news service attributes the stock market gains to the passage of the health care reform bill in the U.S. House of Representatives Sunday night.

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