Diesel fuel rises 51 cents per gallon in 1 week

The average price for a gallon of diesel gas rose 51 cents, reaching $5.13 from $4.61 in just a week, according to AAA. The rise in gas prices drove a steady rise in diesel prices, from $3.89 a month ago and $3,073 a year ago.

Diesel fuel rises 51 cents a week

In terms of gas price increases, the state of California saw the highest price increases, with gas prices reaching $5,744 per gallon, ahead of the national average of $4,325 per gallon. Diesel prices in the Golden State also saw prices rise to $6,285, from $5,692 in just a week.

West Coast states such as Montana (reached $4,799 from $4,178), Oregon (reached $5,367 from $4,809), California (reached $6,285 from $5,692), Nevada (reached $5,221 from $4,767) and Arizona (reached $5,149 from $4,557 ) saw the highest increases in diesel prices in a week.

Companies will also be the victims of additional costs for logistics and delivery services. Rising prices for diesel fueling the country’s truck fleets and supply chains are adding to the misery of consumers and businesses alike. This is on top of concerns about rising inflation.

In February, more than a quarter (26%) of business owners said inflation was their number one problem running their businesses. Due to inflation, an estimated 68% of owners are aiming to raise the prices of their goods and services – a seven-point increase since 1981, making it a record high in 40 years.

Across the board, regular, mid-range and premium gas prices also saw an average increase of about 30 cents. Regular, medium, and premium gas prices rose on average from $4,065 to $4,325 to $4,362 to $4,699 and $4,644 to $4,976, respectively.

What are floating gas prices?

Since the beginning of 2022, national average fuel prices have continued to rise steadily due to tight supply and increased demand. Fuel prices have risen since Russia invaded Ukraine in late February. With the war in Ukraine, enraged consumers are feeling the consequences for the economy, especially through gas prices.

A survey published last week by AAA found that two-thirds of Americans thought gas prices were too expensive just a few weeks ago, at $3.53 a gallon. With the national average now above $4, more Americans are expected to feel the bottleneck even more. More than half (59%) of respondents said they would change their driving habits or lifestyle if gasoline costs increased to $4 a gallon. If the gas reached $5.00, which it has in the western part of the country, three-quarters said they would have to make lifestyle changes to offset the spike at the pump.

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This post Diesel fuel rises 51 cents per gallon in 1 week was original published at “https://smallbiztrends.com/2022/03/diesel-fuel-cost-march-14-2022.html”

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