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DOE/EIA average retail diesel price takes biggest jump in more than a year

John Kingston
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Image: Jim Allen/FreightWaves

The weekly DOE/EIA average retail diesel price rose 5.8 cents a gallon Monday to $2.441 a gallon.

That’s the highest one-week increase in prices since September of last year when Hurricane Dorian was impacting oil markets. 

The increase also brings the weekly price up to the highest level since Aug. 31 of this year  when it was also at $2.441. 

Among the broader oil market moves in the past seven to 10 days contributing to the movement in the DOE/EIA price:


— Including the settlement of Monday, the ultra low sulfur diesel price on the CME has risen 8.63 cents a gallon just since the settlement of Friday, Nov. 6. That jump in prices includes two pieces of bullish vaccine news on consecutive Mondays, Nov. 9 and 16. 

— The ULSD price on Monday, on the back of strong markets for all asset classes because of the latest vaccine news, rose 2.47 cents per gallon to $1.2289 a gallon. 

— West Texas Intermediate crude since the last pre-vaccine settlement of Nov. 6 has climbed to $41.34 a barrel from $37.14.

— The wholesale rack price for ULSD nationally, based on SONAR data, has climbed to $1.384 a gallon on Nov. 16 from $1.347 on Nov. 6.


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John Kingston

John has an almost 40-year career covering commodities, most of the time at S&P Global Platts. He created the Dated Brent benchmark, now the world’s most important crude oil marker. He was Director of Oil, Director of News, the editor in chief of Platts Oilgram News and the “talking head” for Platts on numerous media outlets, including CNBC, Fox Business and Canada’s BNN. He covered metals before joining Platts and then spent a year running Platts’ metals business as well. He was awarded the International Association of Energy Economics Award for Excellence in Written Journalism in 2015. In 2010, he won two Corporate Achievement Awards from McGraw-Hill, an extremely rare accomplishment, one for steering coverage of the BP Deepwater Horizon disaster and the other for the launch of a public affairs television show, Platts Energy Week.