National average diesel fuel prices hit $2.44 per gallon as of July 13, according to the U.S. Energy Information Administration (EIA). This is a less than 1-cent rise from the previous week.
National average diesel fuel prices hit $2.43 per gallon as of June 22. This represents a 3-cent rise from the previous week, but overall, prices are still down around 62 cents per gallon compared to same time last year.
After dropping as a result of the COVID-19 shutdowns, national average diesel fuel prices have stabilized in recent weeks. As of June 15, national average diesel fuel prices are sitting at $2.40 per gallon, down $0.67 from the same time last year and up barely 1 cent over last week.
National average diesel fuel prices were $2.37 per gallon, according to the EIA. This represents a $0.75 drop from the same time last year, but less than a half-cent drop from the previous week.
Oil prices bounced back last week, jumping to more than $30 a barrel. While some see this as a positive, there might be more to consider below the surface, both literally and metaphorically.
Diesel prices are once again down this week, dropping an average of 39 cents a gallon since last week and by $1.114 since last year.
After West Texas International (WTI) crude prices almost ended last week with historic low of $17.31 per barrel before eventually settling at $18.27, the benchmark price for crude oil in the U.S. dropped to negative $37.63 late Monday.
It's possible recent low diesel prices may start heading back up, with news that oil-producing countries plan to cut crude-oil production.
A sudden war in crude oil prices between Russia and Saudi Arabia could mean a drop in diesel and gasoline prices at American fuel pumps. But the longer-term implications are more worrying.
Overall national average diesel fuel prices for the U.S. are $3.05 per gallon, dropping about $0.02 from last week and $0.34 compared to 2018.