Diesel, Gasoline Prices on the Rise This Week

Fuel prices continue to increase for school bus fleets across the United States. The average price of a gallon of diesel rose 8 cents since last week to about $4.60, while gasoline climbed more than 10 cents on average.

The U.S. Energy Information Administration reported that gasoline is averaging about $3.42 per gallon across the country, up from $3.31 last week.

The higher diesel costs come after a few weeks of declining diesel prices, while gasoline is continuing an upward trend.

Current average fuel prices by region (gasoline/diesel):

• East Coast: $3.40/$4.80
• Midwest: $3.30/$4.47
• Gulf Coast: $3.09/$4.32
• Rocky Mountain: $3.43/$4.74
• West Coast: $4.01/$5.10

GasBuddy reports that higher oil prices and continued refinery challenges reduced the available supply of fuel.

Said Patrick De Haan, GasBuddy’s head of petroleum analysis: “Macroeconomic factors have continued to weigh on oil and refined products, as strong demand in China hasn’t been slowed much by a surge in new COVID cases. In addition, releases of crude oil from the Strategic Petroleum Reserve have wrapped up. Concerns are increasing that without additional oil, supply will tighten in the weeks ahead, especially as the nation starts to move away from softer demand in the height of winter.”

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