$6 average looms as diesel benchmark hits record
The benchmark used for most fuel surcharges set an all-time high this week. The post $6 average looms as diesel benchmark hits record appeared first on FreightWaves .
The average national price of diesel fuel has reached a record high of $5.967 per gallon, according to the latest Department of Energy/Energy Information Administration report. This price, published on Wednesday but effective Monday, is 36.8 cents per gallon higher than the previous average and is used as the basis for most fuel surcharges.
The diesel futures market has been climbing after a few days of declines, contributing to the upward trend. The all-time record for retail diesel prices was set on Friday at $5.85 per gallon, surpassing the previous high of $5.82 recorded in June 2022. The price of ultra-low sulfur diesel on the CME commodity exchange has also been rising steadily.
While the price of diesel has increased by 5.11% to $4.8010 per gallon on Wednesday, it is expected to surpass $6 per gallon within a few days if the current trend continues.
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