Diesel down again, edging downward as part of expected summer decline
The national average price for a gallon of on-highway diesel fell another 1.4 cents in the week ended May 19 to $3.94, following two weeks of similar declines and sinking the price 4.1 cents since the start of May, according to the Department of Energy’s Energy Information Administration.
The DOE predicted last month that the national average price would average $3.87 this summer, and the recent price drops could be the start of that decline.
Diesel price’s year over year difference also has fallen some, with the gap now at 4.4 cents nationally — a few cents closer than in recent weeks.
The year over year disparity, however, is much higher on the East Coast and in its subregions: 15.6 cents in the broader region, 21.1 cents in the Central Atlantic region and 14.8 cents in the New England region.
ProMiles’ Fuel Surcharge Index reported this week a 1.2-cent drop, bringing its reported national average to $3.873 a gallon, up 1.2 cents from the same week last year.
Per the EIA, prices fell in all regions in the U.S., too, led by a 2-cent drop in the Midwest, a 1.8-cent drop in the New England region and 1.6-cent drops in California and the Rocky Mountain region.
The New England region still has the country’s most expensive diesel — $4.139 — followed by the Central Atlantic’s $4.136 and California’s $4.110.
The Gulf Coast has the nation’s cheapest diesel, $3.791, followed by the Midwest’s $3.901 and the West Coast less California’s $3.923.