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The price of a gallon of diesel fuel rose by nearly 7 cents last week, continuing a streak of rising prices since the beginning of the year.
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The price of diesel fuel increased for the third week in a row, hitting an average price of $2.198 per gallon.
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The price of diesel fuel rose last week for the second straight week, but uncertainty in the crude oil market could curb the increases.
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A decline in the price of diesel fuel was not meant to last, as prices once again increased only a week after the first drop in a month and a half.
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The average price of diesel fuel finally fell last week, breaking a streak of steady increases that started in late February when the price of oil began to rally.
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The average price of diesel fuel in the U.S. remained mostly flat last week after more than a month of increases.
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Because the current low crude oil prices are making it unattractive for companies to make “upstream investments” in getting crude out of the ground, it could spell trouble for oil security and oil and fuel prices down the road, according to an executive at the International Energy Agency.
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The average price of diesel fuel increased last week, pushed upward by a rebounding crude oil market.
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The average price of diesel fuel continued to climb last week as a rebound in the crude oil market put upward pressure on energy costs. However, the trend may reverse, as Iran has vowed not to freeze its oil production output at current levels.
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Average prices for trucking’s main fuel along with those for gasoline and crude oil are all expected to remain low this year, according to the latest U.S. Energy Department Short-Term Energy Outlook, and aren’t expect to rise significantly next year.
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