Oil Prices Move to Four Month High

After weeks of very little movement, oil prices have been on the march higher. During Monday’s trade, oil prices were hovering around $60 per barrel, an over 25% increase since Christmas, and much of the recent push has been due to production cuts from OPEC and ongoing instability in Venezuela. Between that and the transition from winter blend to summer blend, gasoline prices have increased considerably across the Northwest.

However, Patrick DeHaan with GasBuddy.com, said diesel prices have not followed suit. And he noted those that use diesel may enjoy some relief at the pump or the foreseeable future.

“Diesel prices are lackluster again, because we’re coming off the heels of heating season, before we go into heavy farm and Ag use. So, diesel prices may remain a little more muted while gasoline prices are likely to climb in the week ahead.”

DeHaan noted oil prices are expected to continue to climb, which means diesel prices will eventually follow suit.

As far as diesel prices are concerned, the national rate increased one cent in the past week to $3.01, while Washington’s price increased one cent to $3.20 a gallon, and Oregon’s price for diesel increased two cents to $3.10 a gallon.

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