Fuel Prices Continue to Move Higher as Demand Tightens

Typically with the month of November, fuel prices begin to drop, both in diesel and gasoline. However, 2017 is anything but a typical year, as prices are moving higher. Marie Dodds with AAA said it’s simple economics, as demand for diesel and oil is very high right now.

“In fact, we are looking at the largest demand for the month of October since 2006. So, when we have a lot of demand for a product prices go up, and that’s what we’re seeing now for gasoline and diesel.”

Currently, the National average for a gallon of diesel is $2.78, an increase of four cents over the past week, $3.12 a gallon in Washington, up one cent in the past week, and $2.94 a gallon in Oregon, and increase of two cents. Dodds says while an increase in domestic oil production helps insulate the U.S. from turbulent oil prices, consumers must remember global issues still play a big part of where prices go.

“So certainly, the U.S. is a huge consumer of oil but, we really have to put on our global lenses to look at all the things that are influencing crude oil prices.”

Dodds noted that crude oil closed out last week at the highest prices reported in 2017, at $54.54 a gallon. Here are some of the lowest diesel prices we could find across the Inland Northwest: