What determines the price of diesel fuel?
Four main components contribute to the retail price of a gallon of diesel fuel: The cost of crude oil purchased by refineries. Refining costs and profits. Distribution, marketing, and retail station costs and profits.
What is the EIA fuel index?
Gasoline and Diesel Fuel Update
| 12/06/21 | 12/20/21 | |
|---|---|---|
| West Coast (PADD5) | 4.416 | 4.381 |
| West Coast less California | 3.992 | 3.941 |
| California | 4.789 | 4.768 |
Why do fuel prices fluctuate?
Global oil prices change for many reasons, including manufacturing costs, supply and demand, and competition. Along with inflation, this mostly explains why the price of fuel increases over time. Supply and demand: When supply drops, prices rise.
Do gas prices reflect the economy?
At the individual level, higher gas prices mean that each of us pays more at the pump, leaving less to spend on other goods and services. But higher gas prices affect more than just the cost to fill up at the gas station; higher gas prices have an effect on the broader economy.
Why is diesel fuel so expensive?
Diesel fuel is more expensive. Taxes: Diesel fuel is assessed a higher federal excise tax than gasoline (24.4 cents per gallon for diesel vs. 18.4 cents per gallon for gasoline) and diesel fuel is also sometimes assessed a higher tax at the state level.
What is the future of diesel fuel prices?
DOE forecasts the national average for retail on-highway diesel prices to average $3.39 a gallon nationally in the first quarter of 2022, falling to $3.13 a gallon nationally by the end of next year.
What is the national fuel surcharge this week?
To determine the current fuel surcharge, click the link below to view the DOE Weekly On-Highway fuel price….http://www.eia.gov/oog/info/wohdp/diesel.asp.
| At Least | But Less Than | Fuel Surcharge |
|---|---|---|
| $ 1.551 | $ 1.60 | 0.50\% |
| $ 1.601 | $ 1.65 | 1.00\% |
| $ 1.651 | $ 1.70 | 1.50\% |
| $ 1.701 | $ 1.75 | 2.00\% |
What are fuel surcharges?
A fuel surcharge is a way of adjusting the amount paid to move freight by taking into account significant variation in fuel prices, compared to historical levels. It is a method for sharing or transferring risk. Most carriers and shippers participate in a fuel program of some kind.