Diesel prices are even higher, while gas prices have reached record highs.
Gas prices are at an all-time high, as everyone is well aware. It might cost $100 to fill your SUV up with 18 gallons petrol in some areas of the country. Diesel fuel prices are at an all-time high and is trending at $1.00 less than gasoline. How much would you rather spend $1,227.49 to fill up your tank instead of $100?
This is the reality of the trucking industry. This image was provided by an anonymous Motor1.com reader. He spent just one fuel stop and bought a functional, if not spectacularly beautiful, car almost anywhere. According to the US Energy Information Administration, diesel fuel costs an average of $5.19 per gallon in America. Ironically, this is exactly the fuel price stop.
Our source stated that the 236-gallon fuel stop would cover approximately 1,500 miles. This equates to three days of travel for him in his line. The weekly fuel bill is not $1,227.49. It’s actually twice that – $2,454.98, each six days. The EIA reports an average diesel fuel cost of $5.87 on the US West Coast. California is the most expensive, at $6.29 an average.
Record-high fuel prices lead to higher transport costs and, in turn, higher prices for goods or services. A report by The Washington Post provides several examples. One example is a trucking business based in New York that pays $400,000 per month for diesel to transport freight and food to grocery shops. The price of gasoline-powered vehicles is also rising. The Washington Post highlights mainstream services such as lawn maintenance and specialty businesses such as dog grooming. One busy Motor1.com employee pointed out that there is a temporary fuel surcharge for today’s lunch delivery.
Is there any relief? After several weeks of steadily rising prices, gas and diesel prices had somewhat stabilized as of March 28. According to the EIA, gasoline prices averaged $4.24 per week. This is a slight decrease from the previous week. Diesel’s average price of $5.19 is slightly higher than the week before. Brent crude oil is down almost 7 percent at $112.50 per barrel. WTI crude drops nearly 2 percent to close at $104.