Diesel rose 3.7% last week to $5.45 a gallon nationally
The Midwest jumped most, up 4.9%, while New England barely moved and California topped $6.78.
The national average retail price of on-highway diesel rose to $5.454 a gallon in the week to 17 August, up 3.7% on the week, according to the U.S. Energy Information Administration.
The gain was broad. Every EIA region climbed. The Midwest jumped most, up 4.9% to $5.435. The Gulf Coast rose 3.8% to $5.237 and the Lower Atlantic 3.4% to $5.204 — still the cheapest diesel in the country. On the West Coast the average reached $6.203, up 2.8%, and California hit $6.785, up 2.5% and the most expensive in the survey. New England was the lone laggard, up just 0.6% to $5.545.
That leaves a spread of more than $1.50 a gallon between the cheapest region and California — enough to change where a full tank is worth buying on a long westbound run.
The jump is not a one-week blip. On the year the national average is up 46.9%, and diesel has been climbing since early July, when it sat at $4.578 in the week to 6 July. Fuel is the largest variable cost most owner-operators carry, and it is rising into a soft freight market: the Bureau of Labor Statistics producer price index for long-distance dry van truckload fell 1.3% in July. Costs up, revenue down, is the squeeze.
Two caveats. The diesel figures are retail pump averages including taxes, surveyed every Monday; fleets buying on contract at truck stops pay less than the posted average, and the gap widens when prices move fast — so read these as direction, not as what you will pay at the island. The truckload figure is an index, not a dollars-per-mile rate: it tracks change from a base period and blends contract with spot business, so it turns later and more gently than the spot market.
Data behind this story
- Producer Price Index U.S. Bureau of Labor Statistics · Public domain (U.S. Government work)
- Weekly Retail On-Highway Diesel Prices U.S. Energy Information Administration · Public domain (U.S. Government work)