The national average cost of diesel fuel continued a three-week slide to $2.824, falling 4 cents from last week, while gasoline dropped by just under a cent to $2.448, according to the latest EIA numbers.
The Gulf Coast saw the lowest average diesel prices at $2.675 while the East Coast region came in just under $3 per gallon to $2.992. Compared with a year ago, diesel fuel prices are down more than 1.15 per gallon.
The highest gasoline prices could be found on the West Coast, averaging an even $3 per gallon while the cheapest pump prices were again in the Gulf Coast at $2.313 per gallon.
Fuel prices were on a steady incline toward the end of January and into the next month with February seeing the first month-to-month increase in diesel prices in eight months. But prices have tumbled in the past few weeks.
Recently, OPEC stated that despite the U.S. cutting its crude oil output, global supplies might not feel that effect until later in the year, according to USA Today.
U.S. inventories are still at all-time highs while demand remains low causing some analysts to predict a return to the low fuel prices seen toward the end of 2014 and at the beginning of this year.
Originally posted on Trucking Info
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