Fuel drops to half of what it was a year ago

| Monday, July 13, 2009

Fuel prices have begun to drop these past few weeks and are considerably lower than they were a year ago.

Midway through July 2008, many truckers were struggling to pay their fuel bills as the national average hit $4.764 per gallon for diesel. In the California region, fuel hit $5.02 per gallon during the same week of 2008.

According to the U.S. Energy Information Administration’s report, fuel stayed in the $4 range until Sept. 22, 2008, when the national average dropped to $3.958 per gallon. Diesel prices did not hit the $2 range, where they are today, until Nov. 10, 2008, when fuel dropped to $2.944 per gallon.

On Monday, July 13, the EIA is reporting that fuel is down 5.2 cents to average $2.542 per gallon.

All nine regions are reporting decreases in fuel prices. While the California region still has the highest price for diesel of all of the regions at $2.727 per gallon, it is still reporting a 6-cent drop from a week ago. The Gulf Coast region is reporting a drop of 5.3 cents per gallon to average $2.495 for fuel.

Below are the regional prices for ULSD reported by the Department of Energy. To see a map of the states in each of the listed regions, click here.

  • East Coast: $2.564
  • New England: $2.623
  • Central Atlantic: $2.662
  • Lower Atlantic: $2.512
  • Midwest: $2.518
  • Gulf Coast: $2.495
  • Rocky Mountain: $2.618
  • West Coast: $2.648
  • California: $2.727

 

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