U.S. diesel fuel prices highest since 2015

The average price for a gallon of on-highway diesel fuel hits $3.104, with prices the highest in California, according to the U.S. Energy Information Administration. The average price for a gallon of on-highway diesel in the United States stands at $3.104 per gallon, the U.S. Energy Information Administration reported Monday. This is the highest amount since Jan. 5, 2015, when prices stood at $3.137 per gallon, adding fuel to the fire to the trucking industry’s ongoing capacity crunch. Diesel fuel prices in all regions across the country are higher than the corresponding period in 2017. However, diesel fuel prices in California saw the sharpest increase and are currently the highest in the nation at $3.787 per gallon. Diesel fuel prices are the lowest in the Gulf Coast region at $2.910 per gallon. The Energy Information Administration said diesel fuel prices have been higher than regular grade gasoline prices almost continuously since September 2004, mainly because: • Demand for diesel fuel and other distillate fuel oils have been relatively high, especially in Europe, China, India and the United States; • The transition to less polluting, lower-sulfur diesel fuels in the U.S. affected diesel fuel production and distribution costs; • And the federal excise tax for on-highway diesel fuel is higher than the federal excise tax on gasoline. However, data from the U.S. Energy Information does show how regular gas prices across the United States have increased across all regions from 12 months prior, currently standing at $2.747 per gallon, the highest since July 2015. Diesel fuel prices and regular gasoline prices listed by the U..S. Energy Information Administration include all taxes. “Expensive crude oil prices, unrest in the Middle East, strong domestic demand, record production rates and global oil supply surplus have created the perfect storm to drive spring gas prices toward new heights,” said Jeanette Casselano, AAA spokesperson.