Diesel fuel prices drop after weeks on the rise
After a six week climb to prices that haven’t been seen at the pump since summer of 2015, diesel fuel prices drop only marginally.
The national average of on-highway diesel fuel prices fell slightly to $2.585, down 1.2 cents from the prior week. However, prices have inflated 47.3 cents more than the same time last year, when diesel was $2.112 a gallon, as reported by the Energy Information Administration (EIA) on January 17th.
As is par, the most expensive fuel is located in the West Coast region, with diesel prices averaging at $2.855, down 1.8 cents from last week’s tally.
California’s prices fell slightly less than the rest of the West Coast, down only 1.6 cents this week. With costs only falling to $2.937 per gallon, California still leads the nation in highest diesel fuel.
For the second week straight, the Central Atlantic region beat out West Coast less California, ringing in at $2.804, down just .009 cents per gallon.
West Coast less California rounds out the top three highest priced regions with averages per gallon coming in at $2.755. While rates were down nearly two cents this week, the region is up 55.7 cents since this time last year, the highest inflation rate in the United States.
The regions that saw the smallest drops at the pump were New England and Rocky Mountain, nearly flat at just .002 and .003 cents down from last week respectively.
The cheapest diesel is yet again in the Gulf Coast region, decreasing to $2.429 per gallon, 1.9 cents less than the week before.
The EIA lists prices in the other regions of the nation as follows:
- East Coast – $2.636, down .012 cents
- Midwest – $2.541, down .006 cents
- Rocky Mountain – $2.538, down .003 cents
Source: U.S. Energy Information Administration (Jan 2017)
Diesel fuel prices down, but only slightly