For 6 straight weeks diesel fuel prices fell. This past week according to figures released by the Department of Energy (DOE) diesel fuel prices across the country were 1.6 cents lower to $3.977 a gallon.
The decline was 6 in row for diesel fuel and puts its fleet fueling at its lowest point since January of this year. Surprisingly, diesel fuel is 17.1 cents cheaper today, and then it was a year ago.
Gas prices didn’t want to take a backseat to diesel fuel and they too dropped for the 6th straight week in a row. Gas prices went down 3.7 cents per gallon for a national average of $3.6068. Their lowest price level in over two months and keeping the pace of falling diesel fuel prices.
What happens next is going to be very tricky because crude oil price have been staying in the low to mid $90 a barrel range. There is a lot of tension and nervousness with North Korea and Iran. When there is tension in most cases the market for oil tends to go up about fears of supply and demand issues. We will have to all keep our eye on that as we continue our fleet management and fuel management efforts.
If you need more help, give a call to our offices 267-482-6155.