Diesel Prices Fall Slightly, Crude Oil Up on OPEC, Election News
The average price of diesel fuel in the U.S. fell by nearly a cent and is still relatively flat over the past month, according to the latest numbers from the Energy Department.
by Staff
November 7, 2016
2 min to read
The average price of diesel fuel in the U.S. fell by nearly a cent and is still relatively flat over the past month, according to the latest numbers from the Energy Department.
The national price of on-highway diesel fuel dropped by 0.9 cents last week, settling at $2.47 per gallon at the pump. The price is 3.2 cents cheaper than it was in the same week a year ago.
Ad Loading...
Prices changes fluctuated by region, with the largest price drop occurring in the Midwest, falling 1.8 cents. The largest increase came to the Central Atlantic region, where prices gained 0.1 cent last week.
Source: EIA
Gasoline prices were mostly flat as well, with the average national price of regular gasoline increasing by 0.3 cent to $2.233 per gallon. The price is virtually the same as it was in this week of 2015 – just 0.2 cents less.
The largest decrease in gasoline prices was in the Gulf Coast region, where prices fell 2.7 cents for the week. This was offset by a 6.4-cent increase per gallon in the Central Atlantic region.
Once again the crude oil market reacted to the prospect of a production freeze as prices ended the day slightly higher, according to a Wall Street Journal Report.
A representative of the Organization of the Petroleum Exporting Countries indicated that the group is committed to freezing oil production in order to reduce the global supply glut, which should have the effect of increasing crude oil prices. While some countries were rumored to be against a production freeze, analysts are now feeling more optimistic about a deal.
Ad Loading...
The market also experienced a bump from the FBI reiterating that presidential candidate Hillary Clinton would not be charged based on newly discovered emails. The remarks were interpreted as benefitting Clinton’s chances on Election Day and the stock market, in general, has seemed to favor this outcome over a win by Donald Trump.
The Environmental Protection Agency said California can’t enforce its Heavy-Duty Inspection and Maintenance Regulation, known as Clean Truck Check, on vehicles registered outside the state. But California said it will keep enforcing the rule.
The Trump administration has announced it will no longer criminally prosecute “diesel delete” cases of truck owners altering emissions systems in violation of EPA regulations. What does that mean for heavy-duty fleets?
Natural gas is quietly building a reputation as a clean, affordable, and reliable alternative fuel for long-haul trucks. And Ian MacDonald with Hexagon Agility says the Cummins X15N is a big reason why.
Mercedes-Benz has begun a new series of tests in Europe to validate vehicle compatibility with megawatt chargers and assess charging performance, thermal management, and usability on long-haul duty routes.
Safety, uptime, and insurance costs directly impact profitability. This eBook looks at how fleet software is evolving to deliver real ROI through proactive maintenance, AI-powered video telematics, and real-time driver coaching. Learn how fleets are reducing crashes, defending claims, and using integrated data to make smarter operational decisions.
Fleet software is getting more sophisticated and effective than ever, tying big data models together to transform maintenance, safety, and the value of your existing tech stack. Fleet technology upgrades are undoubtedly an investment, but updated technology can offer a much higher return. Read how upgrading your fleet technology can increase the return on your investment.
Idle reduction for heavy-duty trucks has come a long way. An updated playbook from the North American Council for Freight Efficiency explains what technologies deliver results today — and what’s coming next.