The average price of a gallon of on-highway diesel fuel dropped for the fourth straight week according to the weekly numbers from the U.S. Energy Department.
Nationally, the average price dropped by 0.011 cents last week to $2.859 per gallon and is $1.06 cheaper when compared with this time last year.
By region, the largest decrease occurred in the Gulf Coast with an average price drop of 0.022 cents. While prices decreased in most of the U.S. overall, the largest increase was in New England, with an increase of 0.012 cents to $3.085 per gallon.
Gasoline prices were also down for the week, dropping 0.023 cents nationally and settling at $2.812 per gallon. Last week, prices rose slightly to $2.835 per gallon, representing the peak of a nearly 8 week streak of price increases.
The biggest drop in prices was found in the Midwest region with a decrease of 0.051 to $2.743 per gallon. Like diesel, some regions saw increases and the largest of these occurred on the West Coast with a 0.039 cent increase to $3.069 per gallon.
Crude oil prices rose slightly this week with Brent Crude rising 32 cents to $63.34, according to the Wall Street Journal. The market for crude oil has remained weak despite the summer season usually being a strong time of the year for demand.
Originally posted on Trucking Info