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

Illustration showing DEF tank and Detroit engine
Equipmentby Deborah LockridgeJune 18, 2026

DTNA Software Update Gives Truckers More Time Before DEF Derates Take Effect

The changes reflect EPA guidance aimed at reducing downtime caused by emissions-system faults while maintaining compliance requirements.

Read More →
Illustration of exhaust aftertreatment system on an AI-inspired blue background and a green fuel pump nozzle in the foreground.
Maintenanceby Deborah LockridgeJune 15, 2026

New Agentic Predictive Maintenance Report Demonstrates How Degraded Aftertreatment Systems Waste Fuel

Questar analyzed a large mixed-class fleet and discovered it was wasting as much as $30 in fuel per vehicle, per day, because of mechanically degraded aftertreatment systems.

Read More →
Amazon electric cargo bike on New York City street
Fleet ManagementJune 15, 2026

New York City's Microhub Project is Delivering Results

Trucking, last-mile delivery companies, and environmental advocates like what they are seeing so far with New York's microhub program.

Read More →
Ad Loading...
Red Kenworth truck pulling Paper Transport trailer
Fuel Smartsby Deborah LockridgeJune 2, 2026

Lessons Learned About Alternative Fuels: Start Small, Stay Flexible

Practical advice on adopting alternative fuels and ZEVs from HDT's 2026 Top Green Fleets, from renewable diesel and natural gas to electric trucks.

Read More →
Composite image of different angles of the Kempower charger
Fuel Smartsby News/Media ReleaseMay 29, 2026

Kempower Adds Flex EV Charger to Help Support Transition to Megawatt Charging

The Kempower Mega Satellite Flex has both a CCS and MCS connector, allowing operators to serve both types of heavy-duty vehicles.

Read More →
White Hino Le electric tractor on show floor
Equipmentby News/Media ReleaseMay 26, 2026

Hino Adds Electric Class 6/7 Truck

Hino says the Le Series is an important step in the company's efforts to reduce environmental impact and support its customers’ sustainability goals.

Read More →
Ad Loading...
Sigma Powertrain BEV transmission.
Fuel Smartsby Jack RobertsMay 26, 2026

Can Multi-Speed EV Transmissions Solve Heavy Trucking’s Biggest Electric-Vehicle Problems?

A startup called Sigma Powertrain believes purpose-built multi-speed gearboxes can boost efficiency, reduce battery size and improve gradeability for heavy-duty battery-electric trucks.

Read More →
Red Hendrickson e-axle at ACT Expo booth
Equipmentby News/Media ReleaseMay 22, 2026

Hendrickson Debuts Electraax E-Axle for Medium-Duty Trucks

Developed with Driventic, Hendrickson's new integrated e-axle is designed to improve efficiency, reduce weight, and extend range in Class 6-7 EV applications.

Read More →
Fueling trucks.
Fuel SmartsCover Storyby Deborah LockridgeMay 18, 2026

50 Ways Fleets Can Cut Fuel Costs Now — Without Buying New Trucks

Fuel savings don’t come from one big change. They come from dozens of small ones. Here’s how leading fleets are stacking gains across drivers, routing, maintenance, and more.

Read More →
Ad Loading...
Collage of HDT Top Green Fleets with logo
Fuel Smartsby Deborah LockridgeMay 18, 2026

Top Green Fleets 2026: How Fleets Are Reducing Emissions in the Real World

What works in sustainable trucking today? Heavy Duty Trucking's Top Green Fleets are finding practical ways to cut fuel use, reduce emissions, and keep freight moving.

Read More →