Diesel prices are the lowest that they have been in many years.  - Source: EIA

Diesel prices are the lowest that they have been in many years. 

Source: EIA

National U.S. average diesel prices are down $0.04 from the week prior and $0.61 from one year ago, hitting $2.51 per gallon as of April 13, 2020, according to data from the U.S. Energy Information Administration (EIA) .

This continues the week-over-week decrease. Currently, the Gulf Coast region is showing the lowest average diesel prices at $2.29 per gallon, according to the EIA with California is still showing the highest average diesel fuel prices at $3.30 per gallon. 

According to data from WEX tracked by Work Truck magazine over the past several years, the last time diesel prices hit this low was in mid-2017 after several years of extraordinarly high prices. 

Did you know? The highest ever recording diesel fuel price, according to AAA, was $4.85 per gallon in July of 2008.

The drop in diesel prices falls in line with the drop in average gasoline prices, with AAA noting gas as low as $1.86 per gallon. Low crude prices due to COVID-19 and lower demand for gas, as Americans continue to social distance, have helped to push pump prices lower.

The EIA also reported that gas demand plunged to 5.1 million b/d from the previous week’s rate of 6.7 million b/d in its most recent weekly report. 

Originally posted on Work Truck Online

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