What factors affect diesel fuel prices?

Local market conditions and factors such as the location of the fueling station can also affect retail diesel fuel prices. Some retail outlets are owned and operated by refiners, and others are independent businesses that purchase diesel fuel for resale to the public. Why are diesel fuel prices higher than gasoline prices?

Why are diesel prices soaring?

Diesel market prices are soaring all over the world amid low stockpiles and supply pressures. The cost of diesel relative to crude oil is at its highest in more than two years in Singapore and the U.S., while in northwest Europe, it’s at the most in 21 months.

How much does diesel cost in November?

Diesel prices have increased by 33% for November deliveries. “The national average price for diesel today is $5.30 per gallon and is expected to go up 15 to 20 cents in the next few weeks,” said Andy Lipow, president of Lipow Oil Associates, LLC.

Will a high diesel Price hurt the US economy?

None of it is good.” Leading energy economist Phil Verleger worries that the tight supply could send the average US price of diesel to $10 a gallon by the end of the summer, up from its current record average price of $5.56, according to AAA. Diesel prices that high could put the brakes on the US economy, he said.