This article has been reprinted from USDA's April 25 Grain Transportation Report.
For the week ending April 22, the average diesel fuel price in the U.S. increased to $3.147 per gallon, 2.9 cents above the previous week’s average and 1.4 cents above the same week last year.
Prices have increased nearly 7 cents per gallon over the past 3 weeks. A similar increase in crude oil prices is putting pressure on diesel fuel prices.
The Energy Information Administration expects demand for diesel fuel this summer to be strong again this year, due to continued economic growth, industrial output, international trade activity, and oil and natural gas drilling activity. All of these factors contribute to more trucking activity.