Diesel Jumps 1.9¢ to $3.226

August 28th, 2018


Category: Transportation

(Transport Topics) – The U.S. average retail price of diesel jumped 1.9 cents to $3.226 a gallon while crude oil prices rose amid supply risks.

Trucking’s main fuel costs 62.1 cents a gallon more than it did a year ago, when the price was $2.605, the Department of Energy said Aug. 27.

Averages rose in all regions.

The national average price for regular gasoline rose 0.6 cent to $2.827 a gallon, DOE’s Energy Information Administration said. The average is 42.8 cents higher than it was a year ago.

Average gasoline prices rose in four regions and fell in five.

Crude oil futures trading on the New York Mercantile Exchange closed Aug. 27 at $68.87 per barrel, the highest in more than three weeks, compared with $66.43 on Aug. 20.

Oil held above $68 a barrel on slowing American drilling and investor optimism after a breakthrough in a trade standoff between the United States and Mexico, according to Bloomberg News.

Crude has traded below $70 in August as a trade war between the United States and China, coupled with the threat of contagion from the Turkish currency crisis, weighed on prices. Still, slowing American output growth and pipeline bottlenecks are adding to supply risks as President Donald Trump is set to impose sanctions on oil exports from Iran in early November at a time when stockpiles are shrinking, Bloomberg reported

Meanwhile, the role of commercial vehicle power management technologies in improving fuel efficiency and lower emissions will be underscored at the 67th IAA Commercial Vehicles show in Hanover, Germany.

Diesel engine emissions regulations and growing demand for improved fuel economy are driving development of new engine and aftertreatment technologies, according to Eaton Corp.

The ability to heat up the aftertreatment system quickly during cold cycles and low-load operating modes is key to reducing nitrogen oxide emissions, and Eaton’s variable valve actuation technologies manage exhaust temperature and improve fuel economy.

Eaton also is developing a dedicated exhaust gas recirculator.

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