The price drivers pay at the pump for diesel fuel is now at its lowest point since August of 2012, according to data from the U.S. Energy Department.
After the national average dropped another 5.5 cents to $3.887, the lowest price since the week of Aug. 6, 2012, when prices were reported at $3.85 per gallon nationally.
Diesel fuel prices continued a slow and steady decline, dropping another 3.5 cents nationally for an average price of $3.887 per gallon, according to data from the DOE.
This is the eighth consecutive week diesel prices have dropped, after hitting a five-year high of $4.159 per gallon on Feb. 25. The current national average is about 19.8 cents lower than the average price in April of 2012.
The U.S. Energy Information Administration reported decreases in all 10 regions of the country. The most significant decreases were seen in New England, the West Coast, and in California, with prices falling an average of 7.8 cents, 8.5 cents and 6.8 cents per gallon, respectively.
Following are the weekly average prices for on-highway diesel as reported by the EIA:
U.S. – $3.887, down 5.5 cents
East Coast – $3.924, down 5.3 cents
New England – $4.027, down 7.8 cents
Central Atlantic – $3.982, down 5 cents
Lower Atlantic – $3.862, down 4.9 cents
Midwest – $3.868, down 5.5 cents
Gulf Coast – $3.802, down 5 cents
Rocky Mountain – $3.846, down 3.6 cents
West Coast – $3.99, down 7.6 cents
California – $4.079, down 6.8 cents
West Coast less California – $3.885, down 8.5 cent
ProMiles, which surveys 9,400 fuel stops, reported the daily nationally average is at $3.868 cents on Monday, April 22.
Drivers in Connecticut are paying an average price of $4.216 per gallon, according to ProMiles, the highest average price in the Lower 48. Missouri drivers are paying the lowest prices at $3.628 per gallon.
In other energy news, the price of light sweet crude oil remained below $90 per barrel, closing at $88.76 following midday trading Monday according to the New York Mercantile Exchange. Light sweet crude is the type most commonly associated with diesel production.
In Europe, the price of Brent crude was listed at $100.59, according to Bloomberg.
Copyright © OOIDA