On-highway diesel prices down fourth straight week

| 8/11/2008

The national average of on-highway diesel dropped nearly 15 cents per gallon to $4.353 per gallon the second week in August, according to the Energy Information Administration.

The last time diesel was in the $4.30-per gallon range was in mid-May according to the EIA’s weekly report on the nation’s fuel prices released Monday, Aug. 11. Even with the recent downward trend in the national average, on-highway diesel remains more than $1.50 more per gallon than the same week of August in 2007.

The national average price of on-highway diesel has dropped more than 41 cents per gallon over the course of the past four weeks after topping out at the year’s record high of $4.764 per gallon in mid-July, according to EIA data.

The EIA’s Midwest region was reported with the nation’s lowest regional average for a gallon of diesel at $4.267 per gallon, down 15.2 cent from the previous week.

The Gulf Coast region was the only other region with diesel averaging less than $4.30 per gallon with a regional average of $4.299, down 15.1 cents from a week ago.

While it didn’t post the lowest regional average, the EIA’s Lower Atlantic region’s average decreased more than any other region, sliding 15.7 cents to $4.344 per gallon.

That’s about as good as it gets with the remaining regions reporting averages well above $4.40 cents per gallon.

The East Coast as a whole reported with a regional average of $4.42 cents per gallon. On the other side of the country, the West Coast’s regional average was reported at $4.511 per gallon.

Diesel dropped only 13.2 cents per gallon in the Rocky Mountain region to a new average of $4.473 per gallon.

Rounding out the remaining EIA regions, the Central Atlantic and New England regions averaged $4.563 and $4.584 respectively, while California once again posted the nation’s highest regional average at $4.607 per gallon – 34 cents per gallon more than in the Midwest.