Oil Prices Moving Higher To Start 2019

At the halfway point of January, oil prices continue to march higher. Patrick DeHaan with GasBuddy.com said oil prices have been on an upward trend since Christmas, mainly because of production cuts from Canada and OPEC, and the anticipation the world economy will soon get better. He said all eyes are on the trade talks between the U.S. and China.

DeHaan said not only would a trade deal between the U.S. and China be good news for the farming community but it could be a sign of a stronger global economy pushing oil prices higher.

“That could certainly push consumption up as well, and thus we could be looking at a situation where there is a trade deal, it could essentially represent a faster pace of growth, not only in the economy but the price of oil as consumption goes up.”

As far as diesel prices are concerned, the national average fell two cents in the past week to $2.93, the Washington average for diesel fell six cents to $3.21, while Oregon’s price is now $3.11 a decrease of three cents.

Here are some of the lowest local diesel prices we could find: