Diesel prices finally down a few pennies

| Monday, April 23, 2007

Truckers are getting a slight reprieve from the recent trend of rising diesel prices. The national average price of on-highway diesel came down to $2.851 for the week ending Monday, April 23, 2007.

That price was down 2.6 cents from the previous week, and 2.5 cents lower than the price reported for the same week a year ago.

For the first time since September 2005, national average diesel prices were lower than gasoline prices, according to the U.S. Energy Information Administration.

The reality, however, is that diesel prices have remained high in most regions including California, where diesel was still more than $3 per gallon.

Remaining low-sulfur diesel supplies dropped 3.4 cents per gallon to $2.811, while ultra-low sulfur diesel prices fell 2.4 cents from $2.887 to $2.863. ULSD makes up more than 60 percent of on-highway diesel supplies as low-sulfur diesel continues to be phased out by 2010.

By region, ULSD prices were down slightly across the board, with the biggest decrease occurring in the Lower Atlantic region. ULSD fell 4.1 cents there from $2.874 to $2.833.

ULSD in the Gulf Coast region decreased 3.3 cents from $$2.842 to $2.809, while prices dropped 2.7 cents in the Midwest region from $2.874 to $2.847.

In California, where ULSD is mandatory, prices dropped a penny to $3.004 per gallon.

Prices in the West Coast region were steady at $2.962, down just three-tenths of a cent.

ULSD in the Rocky Mountain region dropped two-tenths of a cent to $2.984.

Back east, the EIA reported that ULSD in the New England region decreased six-tenths of a cent from $2.880 to $2.874.

The Central Atlantic region had an average ULSD price of $2.874, also down six-tenths of a penny.

The East Coast region saw a 2.5-cent decrease from $2.875 to $2.850 per gallon of ULSD.

Domestic decreases in diesel prices may be short-lived, as crude oil prices around the world increased on Monday, according to The Associated Press.

A barrel of light sweet crude was up 27 cents to $63.38 on news of unrest in Nigeria following that country’s general election. Brent crude oil was up 49 cents a barrel to $68.98.

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