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Diesel Fuel Prices To Increase in 2013?

As we begin a brand new year…

we wonder how much the price of diesel fuel will increase or decrease over the course of 2013. While there is no way to be 100% sure, there are many sources that we can use to create an estimate of where the prices may go.
During the final 11 weeks of 2012 the price of diesel continued its declining trend. More specifically, in the final week of 2012 the price of diesel fuel fell 5 cents from $3.923 per gallon to $3.918 per gallon. This ended the year on a good note as diesel prices were 23.2 cents below its average price of $4.15 back on October 15 which was a 4-year high, but will this trend continue?

According to the U.S. Energy Information Administration

average diesel fuel retail prices were forecasted to be $4.02 per gallon during the fourth quarter of 2012. This projection ended up being fairly accurate however; so many factors could have altered this. Although the price of diesel fuel in recent weeks has been on the decline, it is still 13.5 cents higher than it was in December of 2011. Here are some data to let you see the trend over the past few years:

Price Summary

2010

2011

2012

2013

West Texas Intermediate.
Average regular pump price.
On-highway retail.
U.S. Residential average.
WTI Crude Oila
(dollars per barrel)
79.40 94.86 94.26 88.38
Brent Crude Oil
(dollars per barrel)
79.51 111.26 111.57 103.75
Gasolineb
(dollars per gallon)
2.78 3.53 3.63 3.43
Dieselc 
(dollars per gallon)
2.99 3.84 3.97 3.84
Heating Oild
(dollars per gallon)
2.95 3.68 3.76 3.74
Natural Gasd
(dollars per thousand cubic feet)
11.37 11.01 10.89 11.40
Electricityd
(cents per kilowatt hour)
11.54 11.72 11.86 12.05

• (2013) $0.85 increase from (2010) $2.99
• (2013) $0.13 decrease from (2012) $3.97
• (2013) $3.84 is even with (2011) $3.84
• (2011) $3.84, $0.85 increase from (2010) $2.99


The best way to be prepared for what happens in the future is to plan ahead. Costs may go down at times but that doesn’t mean you should let your guard down because costs will rise again. Saving money never has to stop and should be a continuous process, educate yourself on how you can save with fleet tracking.

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