Gasoline Bucks Trend of Dropping Diesel, Oil Prices
Diesel fuel prices continue to drop as crude oil futures continue to reflect a worldwide glut. Gasoline prices, however, jumped nearly 30 cents a gallon in California.
by Staff
July 13, 2015
2 min to read
Diesel fuel prices continue to drop as crude oil futures continue to reflect a worldwide glut. Gasoline prices, however, jumped nearly 30 cents a gallon in California.
Weekly figures released Monday by the U.S. Department of Energy show the national average retail price of a gallon of diesel at $2.814, down 1.8 cents from a week ago and down $1.08 from a year ago.
Ad Loading...
For regular gasoline, however, the average price was up 4.1 cents per gallon from last week to $2.834. That's still down 80.1 cents from a year ago.
Diesel prices were down in all regions except for the Rocky Mountain region, where they were up 0.2 cents per gallon. The highest diesel prices were in California, at $3.133. The New England and Central Atlantic regions were also over $3 a gallon. The lowest average price was reported in the Midwest at $2.704, followed closely by the Gulf Coast at $2.708.
Gasoline prices were highest on the West Coast at $3.589 per gallon, jumping 29.2 cents from last week.
Drivers in California could see prices top $4 a gallon, reports the Associated Press, noting that a shortage in oil and other components used to make California's unique blend of gasoline.
Even without California, the West Coast saw an average gasoline price of $3.589. The lowest gasoline prices were reported in the Gulf Coast region at $2.527, up 0.8 cents from the previous week.
Ad Loading...
Negotiations ongoing with Iran over a nuclear deal have been depressing crude oil futures because a deal would mean the country would re-enter an oil market that is already in a glut. U.S. light crude, also known as West Texas Intermediate, closed down 54 cents Monday, or 1%, at $52.20 a barrel, CNBC reports.
Bank of America Merrill Lynch, CNBS reports, said U.S. crude prices "could soon drop well below our $50 per barrel target" for the third quarter of the year.
A weaker dollar also is contributing to lower crude oil futures prices. And the Wall Street Journal reports that news that production has recently increased in Saudi Arabia and North Dakota, despite the global glut, also pushed prices lower. In fact, Saudi Arabia produced a record high output of crude oil in June.
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.