Americans Expect Fuel Costs to Keep Rising As Average Diesel Price Hits 22-Month High
Washington D.C. – An overwhelming majority of Americans expect gasoline prices to continue to rise as truckers are facing escalating diesel fuel costs.
A new survey conducted by polling firm Rasmussen Reports indicates 78% of U.S. adults expect fuel prices to rise over the next six months.
A total of 68% of American adults said they’re paying more for a gallon of gas today compared to six months ago — and they are correct.
Six months ago the average price of regular gasoline was near $2.15/gallon.
According to the latest report from the U.S. Energy Information Administration (EIA), the average price of regular gasoline for the week of 4/5/21 checked in at $2.85/gallon.
That’s up by more than $1/gallon at the same time last year.
On-highway diesel prices dipped slightly for the second consecutive week coming in at an average cost of $3.14/gallon.
However, the small two-week decrease of 5 cents/gallon followed a record 20 straight weeks of increases.
EIA data for the month of March 2021 indicated the average cost of on-highway diesel topped $3/gallon in each region of the U.S. with the exception of the Gulf Coast, where the average price was $2.93/gallon.
That’s the first such occurrence since May of 2019, representing a 22-month high.
As is typically the case, the West Coast region saw the highest average diesel price last week at $3.65/gallon with the average price in California nearly topping the $4/gallon mark, checking in at $3.98.
Last month, an energy policy expert told Transportation Nation Network truckers should prepare now for diesel prices to soar above $5/gallon in the near future.
Daniel Turner, founder of Power the Future, a non-profit energy policy research organization, explained why the green energy agenda being pursued by President Joe Biden at the expense of fossil fuel production will result in the “inevitable” reality of skyrocketing diesel prices.