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The national average diesel price sees a dramatic increase, soaring by 22.2 cents to hit $4.127 per gallon.
There's been a substantial surge in the national average diesel price over the past weeks. The most recent increase of 22.2 cents brings the cost per gallon to $4.127. The key figures from this trend include:
These dramatic changes could potentially have broad implications for the transport industry.
Source: Transport Topics
It all starts with the price of energy, when diesel doubles in price you think that you can charge double for your service, but someone has to pay for that price hike, and I know with my company that I drive for they get 0.00 extra for there service. Can’t do that forever.
— DrRamm (@Drramm22) July 31, 2023
National average diesel price rises for the third week, up by 43.3¢ since July 17. Diesel now 75.4¢ cheaper than the same period in 2022.
Diesel prices surge 9.9¢ in a week, hitting $3.905 a gallon, marking the largest increase since March 2022.
Diesel prices see a significant decline due to weakening spot market differentials and reduced oil exports from Russia and Saudi Arabia. Amidst China's shrinking oil demand and economic challenges, the global oil market faces a period of uncertainty.
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