Diesel Still Feeling the Impact of Harvey

It’s been roughly two months since Hurricane Harvey made landfall in Texas, but that storm is still making its presence known, when it comes to diesel prices. Patrick DeHaan with GasBuddy.com told the Washington Ag Network that because of that continued pressure on diesel costs, increased demand from harvest and the transitional time of year, diesel prices have remained elevated, and are not expected to drop anytime soon.

“Demand is also rising for heating oil in areas of the country, so I do expect pressure to continue on heavier fuels such as diesel and other distillates going into the wintertime.”

DeHaan noted OPEC could also force diesel prices higher. In November 2016, the oil producing counties trimmed output to keep oil prices high, and it looks like they will make a similar move at next month’s meeting.

“Now Saudi Arabia and Russia have talked about extending those cuts to continue to drive oil prices, or at least put pressure on oil prices from falling.”

DeHaan noted gasoline prices may ease into early 2018, but he said the same can’t be said for diesel prices, which are expected to remain at elevated levels.

As far as current diesel prices are concerned, the national average for a gallon of diesel came in at $2.73, a one cent increase from last week, Washington’s average held steady at $3.11, while Oregon’s rate was unchanged at $2.94 a gallon.

Here are some of the lowest diesel prices we could find across the Inland Northwest: