UPDATED -- The average cost of on-highway diesel has managed to go another week without an increase, according to new U.S. Energy Department figures.
It’s fallen to $3.755, down another 2.3 cents over the past week, and its lowest prices since July 2012. Compared to the same time a year ago the current price is 16.4 cents less.
The last time the average cost of diesel increased was on June 30. Since that time it has fallen every week, except for one week earlier this month when it was unchanged. Over this time it has declined 16.5 cents.
Prices are down in all parts of the country over the past week as well as compared to the same time in 2013.
Diesel ranges from a low of $3.685 in the Gulf Coast region, down 1.1 cent from a week ago, to a high of $3.948 in the West Coast region, a decline of 4.2 cents during the same time and the largest regional decline in the country. The only DOE reported area that is higher is California, where the average is $4.007, down 3.4 cents from last week.
In contrast, the average cost of regular grade gasoline fell, with the national average edging down just 0.1 cent lower from last week, hitting $3.354. Compared to the same time a year ago it is 7.1 cents less.
Prices moved higher by nearly two and half cents or more in the Gulf Coast and Midwest regions, while it gained less than half a cent in the Lower Atlantic section of the country. All other regions reported declines from a week ago.
Gasoline prices range from a low of $3.156 in the Gulf Coast region to a high of $3.645 in the West Coast region.
This happened as U.S. oil prices on Monday rose by $1.03, settling at $94.57 per barrel at the end of trading in New York. Compared to last Tuesday’s opening price it is up nearly $4 dollars as a report last week showed an unexpectedly large drop in U.S. crude inventories amid positive economic news.
Update adds gasoline prices.
Originally posted on Trucking Info