10/03/2022
🛢 Diesel falls further below $5 as gas creeps up.
The U.S. average for trucking's main fuel drops 7.5 cents to $4.889, but remains $1.483 per gallon higher than this time last year. Gasoline rises in tandem with annual concern during hurricane season and with the arrival of Ian in Florida. 🌪
The U.S. average price for a gallon of diesel fuel has fallen once more after three months of almost continuous declines, but gasoline is up slightly, according to the U.S. Energy Information Administration (EIA).
⛽️ Diesel was down 7.5 cents for the week of Sept. 26 to $4.889 per gallon, sinking further below the $5 mark since last week, according to EIA. The U.S. average for trucking's main fuel, however, was heavily influenced by a precipitous 11.4-cent decline in the Midwest. Other regions of the nation were down but much less, according to EIA data, seeing their prices drop between 4 cents and 7 cents.
Diesel has been trending downward since it set a record of $5.81 per gallon the week of June 20. The nationwide average, even after those months of mostly uninterrupted declines, is still $1.483 more expensive than it was a year ago, according to EIA.
Gasoline prices high along hurricane concern.
📈 “Slack demand and lower oil prices should take some pressure off rising gas prices,” Andrew Gross, AAA spokesperson, said in a press release. “But Hurricane Ian could cause problems, depending on the storm’s track, by disrupting oil production in the Gulf of Mexico and impacting large coastal refineries.”
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