After bottoming out in the midst of the COVID-19 pandemic in 2020, diesel fuel prices have climbed steadily the last 12 months, rising from the 2020 national average low of $2.372 per gallon during the week ending Nov. 2, 2020, to the 2021 high-to-date national average of $3.734 per gallon during the week ending Nov. 15, 2021.
The biggest catalyst behind rising fuel costs is the price of crude oil, according to Tom Kloza, global head of energy analysis for Oil Price Information Service (OPIS). The Department of Energy, in its November Short-Term Energy Outlook, said Brent crude oil spot prices averaged $84 a barrel in October 2021, up $9 a barrel from September, and up $43 a barrel from October 2020.
