Diesel Fuel Prices Raise a Penny a Gallon

Diesel fuel prices national average pump rose for the first time in five weeks, edging up 1 cent to $3.820 a gallon, while gas prices increased 4.6 cents to $3.627, making fleet fueling more expensive for all fleet managers.

Diesel fuel prices had declined in 12 of 17 weeks since early May. Gas prices rose for the first time in four weeks.

The previous week’s price was the lowest in almost six months, since the $3.716 per-gallon price on Feb. 28, according to DOE records. This increase cost will put a slight pull on most companies fuel card programs. Higher fleet fueling prices could soon be coming to a station near you. As the federal government looks at a possible QE3, this would at least give the economy a short term push. Making demand for higher diesel fuel prices very possible.

Diesel is now 88.2 cents higher than the same week a year ago, while gasoline is 94.5 cents over the same week last year, DOE said following its weekly survey of filling stations.

Diesel is 30.4 cents below the year’s high of $4.124 set May 2, which was the highest national average price since August 2008. Gas is 33.8 cents below the price on May 9, which was also the highest since 2008. Could fuel management be a big key to making your fleet managment budget in 2012. Keep reading to find out.

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