National average price for diesel drops another 14.6 cents

| Monday, August 18, 2008

After months of watching helplessly as diesel prices soared to record-high prices across the country, there’s some good fuel news for truckers. The U.S. Energy Information Administration is reporting an on-average decrease of 14.6 cents per gallon to put the nationwide average at $4.207.

This is the fifth straight week the price of diesel has dropped, according to the EIA’s weekly report on the nation’s fuel prices released Monday, Aug. 18. The national average price has dipped more than 55 cents per gallon during this same time period.

Even with the recent decline in prices, the national average price is still more than $1.33 higher than it was this same week of August in 2007.

All nine regions are reporting decreases of at least 13 cents per gallon from the previous week’s averages. The California region is reporting the most significant drop in fuel prices at the pump– 18.5 cents – to average $4.422 per gallon.

The New England region is reporting the second highest drop in pump price, down 16.2 cents to average $4.422 per gallon. The Lower Atlantic region is reporting a decrease of 16.1 cents for diesel, which is now averaging around $4.202 per gallon.

Fuel prices have dropped by as much as 15.8 cents per gallon on both regional coasts, with the West Coast averaging $4.364 per gallon and diesel costing around $4.286 on the East Coast.

Diesel prices have dropped 15.4 cents in the Rocky Mountain region to average $4.323 per gallon, while the price has decreased 14.7 cents per gallon for fuel in the Central Atlantic region to average $4.423.

In the Gulf Coast region, fuel prices have dropped 14.6 cents to average $4.155.

While the Midwest region is reporting the lowest decrease in fuel price at the pump for this week, down 13.9 cents, the average price of $4.142 is the lowest average reported of all of the regions.

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