During the week ending January 18, U.S. Average On-Highway Diesel Fuel Prices increased 2.6 cents to reach $2.696/gallon.
Diesel fuel prices have risen for 11 consecutive weeks as demand for truck and other transportation services climbed and fuel oil inventories fell.
The Department of Energy’s Energy Information Administration forecasts diesel prices will average $2.71/gallon in 2021 and $2.74/gallon in 2022.
These forecasts are based on expectations U.S. gross domestic product will rise in 2021, boosting demand for fuel energy.