Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

Crude Oil, Fuel Prices on the Rise

U.S. diesel prices were up nearly 2 cents per gallon from a week ago and more than 6 cents per gallon compared to a year earlier, as crude oil prices rose to their highest since early July.

Deborah Lockridge
Deborah LockridgeEditor and Associate Publisher
Read Deborah's Posts
August 28, 2018
Crude Oil, Fuel Prices on the Rise

 

2 min to read


U.S. diesel prices were up nearly 2 cents per gallon from a week ago and more than 6 cents per gallon compared to a year earlier, as crude oil prices rose to their highest since early July.

Oil producers participating in a supply-reduction agreement cut output in July by 9% more than called for, reports Reuters, and Iran’s crude oil exports have fallen amid U.S. sanctions against the country. Reuters reports that risks of supply disruptions from places such as Venezuela, Africa and Iran triggered expectations of a tightening global oil market.

Ad Loading...

Crude oil futures ended Monday, August 27, 15 cents higher on the New York Mercantile Exchange at $68.87 a barrel. Oil prices had their best week since June last week, climbing more than 5% on a larger-than-expected drop in U.S. inventories, reports the Wall Street Journal.

The U.S. Department of Energy’s fuel price report for the week ending Aug. 27 showed the national average retail price of $3.226 was up 1.9 cents from the previous week and 6.21 cents from last year.

The highest price, $3.945 in California, is up 1.6 cents from last week but 95 cents from last year. The lowest prices were found in the Gulf Coast region at $3.004 per gallon, up 2.3 cents from last week and 57.6 cents from last year.

Ad Loading...

While diesel prices were up in all regions of the country compared to last week and last year, gasoline prices were up from a year ago but actually fell slightly in many regions of the country.

The national average price for gasoline of $2.827 per gallon was up .6 cents from last week and 42.8 cents from last year. The highest prices, on the West Coast at $3.310 per gallon, were up .03 cents from last week and 40.7 cents from last year. The lowest prices, $2.569 in the Gulf Coast region, was up .01 cents from last week and 41.3 cents from last year. However, gasoline prices fell from the previous week in the East Coast region and in the West Coast minus California.

More Fuel Smarts

Fuel Smartsby StaffAugust 31, 2026

California Bill Could Shed Light on Electric Truck Prices

Why do battery-electric Class 8 trucks remain so expensive? A California bill headed to Gov. Gavin Newsom would give fleets and state agencies more visibility into what manufacturers charge.

Read More →
Illustration of Freightliner Cascadia on highway with engine cutaway
Equipmentby Deborah LockridgeAugust 27, 2026

Detroit Opens Orders for EPA 2027 Engines

Detroit isn’t starting from scratch to meet EPA 2027 diesel emissions standards. Its Gen 6 DD13 and DD15 engines keep much of today’s platform while updating the fuel and aftertreatment systems.

Read More →
Group of people and zero-emission trucks during ceremony announcing a West Coast ZEV corridor.
Fuel Smartsby News/Media ReleaseAugust 26, 2026

Zero-Emission Truck Corridor Planned for West Coast

California, Oregon, Washington, British Columbia and Baja California are coordinating plans for truck charging and hydrogen fueling from Canada to Mexico.

Read More →
Ad Loading...
YouTube thumbnail showing Kenworth T880e electric truck and KW marketing director Kyle Kimball.
Equipmentby Deborah LockridgeAugust 25, 2026

A Closer Look at Kenworth’s Electric T880E Vocational Truck [Video]

Learn more about Kenworth's T880E battery-electric vocational truck at the Paccar Technical Center, including its range, applications, upfitting considerations, and PTO options, in this HDT Spotlight video.

Read More →
White heavy-duty Kenworth T880e battery-powered straight truck with flatbed
Equipmentby Deborah LockridgeAugust 25, 2026

Kenworth T880E Brings EV Power to Vocational Trucks

A closer look at the Kenworth T880E’s range, charging, powertrain and upfit options — and where fleets are showing the most interest.

Read More →
Woman with red hair superimposed on background showing a King Fio electric Volvo truck at the port, plus the HDT Truck Fleet Innovators 2026 logo
Fuel Smartsby Deborah LockridgeAugust 14, 2026

Jennie Abarca Is Proving Electric Trucks Can Do the Job

HDT Truck Fleet Innovator Jennie Abarca is building confidence in fleet electrification one load at a time while openly sharing the challenges she encounters along the way as a small-fleet owner.

Read More →
Ad Loading...
EquipmentJuly 23, 2026

Cummins Adjusts 2027 Engine Rollout After EPA Proposal

The engine maker will gradually introduce its new Model Year 2027 diesel engines while continuing to offer current models during the transition, citing the EPA's proposed emissions rule changes.

Read More →
Four men in suits on the National Mall with giant video screen showing capitol building in the background
Equipmentby Deborah LockridgeJuly 10, 2026

EPA Proposal Could Ease 2027 Truck Costs and Buying Uncertainty

The proposal doesn't change the tougher NOx standard, but it would revise key implementation requirements that manufacturers say have driven up costs and complicated fleet purchasing decisions.

Read More →
Illustration showing Paccar MX engine with sketch illustration of DEF fill tank in background
Equipmentby Deborah LockridgeJuly 7, 2026

Cummins, Paccar Ease DEF Derates After EPA Guidance

Updated diesel engine software gives truck operators more time to address emissions-system issues while staying compliant with EPA emissions standards.

Read More →
Ad Loading...
Illustration with wrenches in background with "Maintenance in the Messy Middle: Biodiesel" text and NACFE Run on Less logo
Maintenanceby Jack RobertsJuly 2, 2026

Maintenance in the Messy Middle Part 3: Biodiesel

Biodiesel can reduce emissions, improve fuel-system lubricity and use existing diesel infrastructure. But NACFE’s Messy Middle maintenance report says fleets must actively manage storage, cold-weather operation, filters and oil drain intervals to avoid problems.

Read More →