Rising Diesel Prices Good for Biodiesel Biz

John Davis

dieselpriceschartPrices for diesel continue to climb in the U.S., hitting their highest point of the year… and that’s good news for producers of green, renewable biodiesel.

Biodiesel Magazine reports that according to the U.S. Energy Information Administration, the national average price of diesel fuel went up 1.6 cents per gallon from $2.652 per gallon Aug. 17 to $2.668 per gallon Aug. 24:

This marks the fifth week in a row for rising diesel prices, which biodiesel producers and marketers should make note of. The lower the price of diesel fuel, the tougher it is for biodiesel to remain competitively priced.

While it’s good news, the diesel prices are still considerably lower than a year ago when they were pushing $4.15 per gallon… and still down from the July 2008 high of $4.764 per gallon.