Diesel’s national average falls below $5
The national average for a gallon of on-highway diesel is below $5 for the first time since early March, according to the latest weekly update from the Department of Energy’s Energy Information Administration.
During the week ending Aug. 8, diesel prices across the U.S. fell by an average of 14.5 cents to a national average of $4.99 per gallon. The last time the national average was below $5 was the week ending March 7, when the national average was $4.85 per gallon.
The bottom has fallen out with diesel prices since late June, as they have fallen 81.7 cents over the last seven weeks from diesel’s peak of $5.81 during the week ending June 20.
Prices during the most recent week fell in all regions, with the most significant decrease being seen in the West Coast less California region, where prices fell by 17.5 cents, followed by California, which saw a 16.9-cent decrease.
The nation’s most expensive diesel is still in California at $6.10 per gallon, followed by the Central Atlantic region at $5.38 per gallon.
The cheapest fuel can be found in the Gulf Coast region at $4.68 per gallon, followed by the Lower Atlantic region at $4.87 per gallon.
Prices in other regions, according to EIA, are:
New England — $5.35
Midwest — $4.96
Rocky Mountain — $5.04
West Coast less California — $5.22
ProMiles’ numbers during the same week saw fuel prices fall by 8 cents, bringing its national average to $5.13 per gallon.
According to ProMiles’ Fuel Surcharge Index, the most expensive diesel can be found in California at $6.35 per gallon, and the cheapest can be found in the Gulf Coast region at $4.76 per gallon.
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Original article provided by: https://www.ccjdigital.com/business/article/15295395/diesel-national-average-falls-below-5-per-gallon
