Gas and Diesel Prices Rise Again

For the first time in the last month, the nation’s average gas price increased, rising 6.2 cents from a week ago to $3.78 per gallon.

The national average is down 11.5 cents from a month ago but stands 37.8 cents per gallon higher than a year ago. The national average price of diesel increased 3.4 cents in the last week and stands at $5.32 per gallon.

National diesel supply remains tight, but supplies of diesel did see a slight rise last week. GasBuddy’s Patrick De Haan says, “Brief outages at a limited number of stations are possible, but with refineries continuing to churn out product and maintenance wrapping up, I’m optimistic the situation will improve.”

Oil saw a strong rally last week as inventories continued to decline and Strategic Petroleum Reserve releases slowed down. Last week’s report from the Energy Information Administration showed a notable drop in oil inventories of 3.1 million barrels, while the Strategic Petroleum Reserve saw a drop of 1.9 million barrels.

Related articles

Friday, December 2nd, 2022 Video and Audio Program

A busy week of trade and a volatile Friday session calls for a jam packed program to wrap up the week! First up, we are joined by DuWayne Bosse of Bolt Marketing to discuss the...

EPA Proposes RFS Volumes for 2023-2025 With Modest Boost for Conventional Ethanol; Not Everyone is Happy

The EPA is finally out with proposed Renewable Fuel Standard volumes for 2023 through 2025, and the ethanol industry is mostly pleased. “A clear pathway for sustainable growth” and an “upward trajectory” for clean...

NCBA Applauds Protect Farmers from the SEC ACT in Senate

The National Cattlemen’s Beef Association supports the Senate version of the Protect Farmers from the SEC Act, a companion bill to legislation introduced into the House of Representatives by Oklahoma Republican Frank Lucas. “The Securities...

USDA Expands Revenue Protection for Oat and Rye Producers

The country’s oat and rye producers can now benefit from revenue protection, a new crop insurance option available through the USDA. After listening to growers, the Risk Management Agency expanded the Small Grains Crop...

2022 Has Been a Challenge for Cattle Producers

Acknowledging every year has its ups and its down, Cameron Mulrony says 2022 was a challenging year for local cattle producers to say the least. Mulrony, the Executive Vice President of the Idaho Cattle Association...

Latest articles

%d bloggers like this: