Diesel Fuel prices are continuing their climb towards record levels today. Diesel prices typically vary from region to region, however, over the past few weeks, prices have been increasing significantly across the United States, causing some to worry about long-term economic effects for the transportation and refinery industries. According to the Department of Energy, diesel fuel prices rose steadily throughout April and are currently at the highest monthly level since December of 2014.

Improvements in Economy

Some diesel fuel experts say that the decrease in unemployment and an increase in the gross domestic product could be to blame for the steady rise in diesel fuel prices. The strong economy could very well be responsible for the increase in demand, which therefore is putting upward pressure on prices. The global head of energy analysis at Oil Price Information Service (OPIS), Tom Kloza, was quoted as saying that “prosperity in the global economy comes with a price, and it can really manifest itself in diesel or jet fuel prices.”

Other Factors Increasing Diesel Fuel Prices

While many US-based oil and gas companies are excited about the rise in crude-oil prices, it may be negatively affecting consumers and truck drivers at the pump. The reason being is that crude-oil prices and diesel prices are often positively correlated. Additionally, the amount of the total U.S. stockpile of diesel influences prices as well. The Energy Information Administration reported that the total U.S. stockpile is currently at 114.9 million barrels, the lowest level since November of 2014. Because the cost of diesel fuel affects shipping trucks, construction equipment, trains, and ocean vessels, the cost of goods in America will most likely increase due to the prices rising. Additionally, some analysts predict that fuel surcharges could return if the diesel fuel prices continue their trend.

Rising Prices Effect on You

With diesel fuel prices continuing to rise, it’s important to ensure you are continuing maintenance on your tractor trailer or fleet.  Making certain that your diesel engine is running efficiently, and therefore using fuel efficiently, will provide a sense of comfort knowing that the diesel fuel you are putting in is being used effectively.

Diesel Engine Solutions

Have a diesel engine repair or fleet management need? Certified Diesel Solutions has the facilities, tools and diagnostics equipment, and expert, ASE certified staff to handle both routine preventative maintenance and the servicing and repair of tractors and trailers for fleets of all sizes. Call us at 865-964-6598 or click HERE to contact us online.