GasBuddy Expect Diesel Prices To Move Higher

After a summer of very little activity, oil prices are moving higher, which industry experts say means fuel prices can’t be far behind. Over the past week, the price for a barrel of crude increased 8% to just under $54. The a considerable increase from the prices we were paying just a few weeks ago, of $42 per barrel. Patrick DeHaan with GasBuddy.com told the Washington Ag Network there are several contributing factors pushing prices higher.

One of the chief concerns is Venezuela.

“Political outlook is fairy grim there, there have been threats from President Trump’s administration that he may put sanctions on Venezuela pending the outcome of the elections being held there.”

DeHaan said other factors pushing prices higher include Saudi Arabia announcing they are cutting exports, and the U.S. inventory of oil dropping roughly 50 million barrels. DeHaan added it’s hard to say when these higher oil prices will translate into higher fuel prices.

“If it’s not this week, over the next few weeks, both gasoline and diesel in Washington state will likely accelerate.”

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