News
Diesel prices retreat slightly from September record
A fuel economist says over-the-road diesel prices have slightly backed off from their record high set late last month.
Patrick De Haan, head of petroleum analysis for GasBuddy, says diesel spiked to an all-time high of $6.52 per gallon on September 22nd.
“It has fallen back to about $6.29 a gallon,” he said. “And with countries in the G7 agreeing to President Trump’s request to release strategic reserves from some of those nations we have seen more downward pressure on diesel.”
But he tells Brownfield he’s skeptical how long the decreases will last.
“The way I would summarize it is if we see more escalations in the geopolitical tensions, we certainly could see a reaggravation and diesel prices going back up.”
According to AAA, the national average fell to $6.26 per gallon on Monday, but is still $2.60 per gallon, or 71 percent higher than year-ago levels.
Patrick De Haan:
Add Comment