Oil, Fuel Prices Moving Higher To Start 2021

Oil prices and fuel prices continue to inch higher as 2021 continues. Patrick DeHaan with GasBuddy says fuel prices have bee moving higher for several weeks at this point, a trend he expects to continue in the weeks and months ahead.

So, what’s pushing oil prices higher? DeHaan says it’s not just the roll out of the coronavirus vaccine, but also a weaker U.S. dollar.

“But a lot of it, I still content, has to do with recovery in this COVID era and the possibility that oil demand will continues to return closer to year-ago levels likely spurring oil prices higher as well.”

DeHaan noted, diesel prices continue to move higher.

The national average for a gallon of diesel increase three cents this week to $2.62, Washington’s average moved up a penny to $2.84, Oregon’s average diesel prices increased two cents to $2.75, while Idaho’s average diesel prices increased three cents to $2.66.

If you have a story idea for the PNW Ag Network, call (509) 547-1618, or e-mail gvaagen@cherrycreekmedia.com