Diesel Fuel Prices Increase 21 Cents in 4 Weeks
Date Posted: February 14, 2013
This article is reprinted from the USDA's Feb. 14 Grain Transportation Report.
During the week ending February 11, U.S. average diesel fuel prices increased 8 cents from the previous week to $4.10 per gallon— the highest price since October 2012.
Over the past 4 weeks, prices have increased 21 cents per gallon.
Crude oil futures contract prices have been increasing since the beginning of the year over concerns of refinery performance and the closure of one refinery in New York Harbor.
Brent Crude Oil Spot Prices have also been increasing over the past couple of weeks. Both situations put upward pressure on diesel fuel prices.
However, the Energy Information Administration reported in its most recent Short-Term Energy Outlook that retail prices of diesel fuel are forecast to fall to $3.92 per gallon in 2013, from an average price of $3.97 in 2012.
For more information, call Surajudeen (Deen) Olowolayemo, USDA, at 202-694-3050.