The Department of Energy, DOE reported today that diesel fuel prices drop six-tenths of a penny for the week. The national price for diesel fuel now stands at $3.845 per gallon. It does make this ten straight weekly decreases. It’s been a great ride and fleet management, I am sure is happy to have the lowest fleet fuel prices since last July.
However, with crude oil hitting over $95 a barrel last Friday the highest in over a month, I believe the winds are about to change on the cost of diesel fuel short term. Don’t be surprised if you see prices turn and head to that $3.90 mark per gallon.
What should keep fleet fueling prices in control is high crude inventory levels. That just needs to be converted into diesel fuel supply.
Not to take away from gas prices but they too fell for the week, down 1.8 cents to $3.538 a gallon. With summer time nearing and crude prices increase, look for your gas prices to increase 5-7 cents per gallon until we hit mid June.
Until next time, good fuel management call 267-482-6159