National Diesel Prices Rise After Seven Week Decline

National-Diesel-Prices-Rise-After-Seven-Week-Decline

The National diesel prices began to drop in November 2022. During the fall, prices dropped as much as 21.3 cents, making diesel way cheaper than it had been since February. However, the automobile industry met with a rude shock as national diesel prices rose after a seven-week decline in January 2023.

Progression Of the National Diesel Prices Rise

On September 19, the average diesel prices had skyrocketed to $4.964. However, this saw a slight decline on September 26 as diesel sold for $4.889. Between October and November, there was a massive diesel prices increase. By November 7, diesel had an average selling price of $5.333 per gallon.

This was a short-lived diesel price rise as the market witnessed a 17.4 cent decline in the week of December time. The Department of Energy’s Information Administration stayed abreast and constantly updated the public with progressions in diesel prices. According to the department, the average diesel price was at its lowest, on February 28, whereby diesel had an average entry price of $4.101. The diesel prices are also seen to hit such low point again as at December 26.

As a result of the decline, diesel was sold at an average price of $4.967 per gallon. Right on the heels of the 17.4 cent decline was a massive 21.3 cent decline on December 12. This crash in diesel prices brought the selling price of diesel to $4.754.

Although it was not very noticeable, the diesel prices decline reduced to 15.8 cents by December 19. Hence, bringing the average national diesel prices to $4.956. December 26 saw a new light as the decline reduced remarkably to 5.9 cents bringing the average diesel prices to $4.537.

January 2nd set a new pace with 4.6 cents rise in average diesel prices. Based on the latest development, diesel had an average selling price of $4.583.

Diesel Prices Rise Affects All Region but One

Amidst the national diesel prices rise in the U.S., the Rocky Mountains region managed to maintain its steady price. The U.S. Energy Information Administration reports stated that diesel was down 1.5 cents to $4.730 by December 26. This was not the case in other regions, as there was a slight increment in diesel prices in other states.

The Gulf coast witnessed a 10.37 cents surge in diesel prices as it hit $4.267. The East coast saw a slightly lower price surge of 4.4 cents. Hence, making the diesel price leap to $4.852. Interestingly, amidst the 4.4 cents surge, the New England and Central Atlantic subregions remained unaffected by the change in price.

The dynamics in fuel surge in the Midwest were slightly minimal. The region experienced a 2.1 cents increment, which increased the price to $4.423. The west coast is in a class of its own. The area is the only part of the country with an average price of over $5 per gallon.

With a 2.3 cents boost in price, diesel on the West Coast goes for $5.091. Despite the rise experienced by the different regions, the national diesel prices rise might be a temporary change.

Usually, the per-barrel oil prices indicate the direction of oil prices. As of January 3, the West Texas Intermediate and Brent Crude saw a reduction of about $1.50 in barrel prices. However, the prices have stayed around $80 per barrel since the end of 2022.

Effects Of the National Diesel Prices Rise on The Economy

National-Diesel-Prices-Rise-After-Seven-Week-Decline

The impacts of the diesel prices rise on the trucking industry cannot be undermined. The industry experienced a similar case during the California price surge and the gas price hike in 2022. However, the impact of the current diesel prices rise will not be the same as it was then.

One side effect of the national diesel prices rises the increase in carrier costs. Failure to increase carrier costs may cause logistics companies to run at a loss. Due to the diesel prices rise, companies would spend more to have their trucks running smoothly. Additionally, considering the variation in prices across different regions, there would be a need to employ foresight, especially for interstate trucks.

Additionally, national diesel prices rise would lead to inflation. Although consumers may not feel this surge while at the pump, they will feel its impact at the stores. This is because stores will be spending more to transport their goods, they will need to increase the selling price of goods.

Failure to factor in the diesel prices rise will cause store owners to run at a loss. Unfortunately, such increments will cut across different products and talk more about consumers in the long run.

The National diesel prices increase could also lead to delayed delivery of vehicles to their owners. Due to the rise in diesel prices, truckers will not deliver vehicles as promptly as expected. The reason is quite simple; trucker will prefer to pair deliveries along the same route together.

Unfortunately, only some consumers would want to ship their vehicles while prices are high. Consequently, much time might be lost while searching for extra vehicles to fill the available space in a shared open carrier. To avoid these impacts, it is best to employ the service of a reliable auto transport company like Metti International.

Metti International is here to Help

Metti International’s track record of prompt delivery in turbulent trucking periods is unmatched such as the post covid-19, port congestion, supply chain disruptions and semi-conductor chip shortage storms. Despite the truck driver shortage, we ensured our clients got their vehicles promptly and safely. At Metti international, we provide smooth and seamless car shipping experience.

We only use carriers with 95% or higher service ratings for car shipments. Over the years, our track record of excellence earned us the BBB Torch Award For Ethics four times. We are committed to our clients and ensure they get excellent customer service each time they contact us. Shipping with Metti International is one of the most economical ways to get your vehicle across the 18 counties in the U.S.

Contact us today at 866.620.1776 to schedule your auto transport or request a quote online. For more information, kindly visit our website at www.mettiintl.com.

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Frequently Asked Questions

Most major credit cards, postal money orders and cashiers checks are acceptable forms of payment.

As with most transport services, a deposit is generally required when placing an order. Deposits range from 10-25 % of the total shipping cost. The remaining balance will be due upon delivery.

Most auto transport companies accept cash, certified checks, and postal money orders.

Coast to coast trips usually takes between 10-14 days. Shorter trips ranges from 3-7 days, depending on the actual distance. Some factors may delay a trip, including traffic, weather, and truck breakdowns.

Yes, we request you, or a designated person, be present upon pick up of your vehicle. For your safety and your vehicle’s safety, an inspection is performed and a bill of lading must be signed that serves as proof of delivery.

The easiest way to ship an inoperable vehicle is to let us know when requesting a vehicle transport quote. There will be an additional charge, plus loading and unloading charges to your quote, if we are not informed of the vehicle’s condition prior to quoting.

Auto carriers are not licensed to carry house goods or personal items, these goods and items are not covered by the carriers insurance. Any damage to your vehicle due to household goods shifting or breaking is also not covered. Personal belongings left in the vehicle, are shipped strictly at the owners risk. Carriers will not inventory any belongings left in the vehicle and will assume no responsibility.

Your car is insured for the Blue Book value the entire time it is on the truck. Clearly listed on your Shipping Order, Agreement and Bill of Lading are occurrences not covered. At the time of pick up, a condition report is filled out and signed by both the person turning the car over and the truck driver and you are given a copy.

Upon delivery of your vehicle, this same report is presented. You should compare the condition of the vehicle to the report thoroughly at that time. If you feel damage has occurred to your vehicle during delivery, you must note it on the report before you sign it and the driver leaves. Damage done in transit does not relieve the shipper of paying for transport service performed. Claims will be handled by the vehicle carrier and insurance companies.

Metti International offers door-to-door auto transport service where possible. However, there are instances that we cannot collect/deliver directly to the door due to the size of our auto carrier’s trucks. The size of your street may prohibit direct delivery to your door. Also, some towns and cities do not allow trucks on their residential streets. If the carrier cannot get to your door, he will deliver your vehicle to the next most convenient accessible location, such as the nearest major crossing street, a shopping mall or supermarket.

Please have a no more than 1/4 tank of fuel, remove all personal items from your vehicle and have it washed and cleaned so that the ensuing inspection is easily performed. If it is a convertible, T-top, sunroof, etc. make sure all openings are closed and prepared for changing weather. You can find additional tips on how to prepare your car for transport here.