Diesel fuel prices fall, but only slightly
Truckers find relief at the the pump when diesel fuel prices fall again this week. Though the price reduction wasn’t considerable, this marks the second week in a row that diesel saw a decline.
The national average of on-highway diesel fuel prices decreased to $2.569, down just 1.6 cents from the last week.
According to last year’s numbers, prices have increased nearly fifty cents from when diesel was $2.071 a gallon, as was reported by the Energy Information Administration (EIA) on January 23rd.
The West Coast region continues to lead the country in most expensive diesel, with prices averaging at $2.846 per gallon, down almost a full cent from last week.
California saw prices fall more than the rest of the West Coast, dipping 1.4 cents this week. Despite the larger decline, California remains the most expensive place in the nation to buy fuel, with cost per gallon coming in at $2.923.
The Central Atlantic saw a full two cent drop in diesel fuel, but is still the second most expensive region with price per gallon averaging at $2.784.
Rounding out the top three highest priced regions in the nation is West Coast less California, with prices at the pump ringing in at $2.75, down only .005 cents this week. Once again, the region has the nation’s steepest price increase, up fifty-nine cents from this time last year.
The regions that saw the slightest price reductions were the Lower Atlantic, down .004 cents to $2.507, and Rocky Mountain dropping .006 cents to $2.532 a gallon.
The only region in the United States to see prices go up this week was New England, with only a .001 cent rise to to $2.676.
The cheapest diesel is yet again in the Gulf Coast region, dropping a cent and a half from the week prior, to $2.414 per gallon.
The EIA lists prices in the other regions of the nation as follows:
- East Coast – $2.627, down .009 cents
- Midwest – $2.512, down .029 cents
Source: U.S. Energy Information Administration (Jan 2017)
Diesel fuel prices down, but only slightly