Price of diesel drops again, could be start of summer drop off

| May 12, 2014

The national average price for a gallon of on-highway diesel fell again in the week ended May 12, dropping 1.6 cents to $3.948, according to the Department of Energy’s Energy Information Administration.

This is the second week in a row the price has fallen, following two weeks of price jumps. The decreases could be the beginning of the DOE-predicted summer decline, when the national average price is expected to slide to a $3.87 summer average.

Related

DOE projects diesel prices to drop more than a dime this summer

The average price of diesel should fall more than dime over the course of the summer, according to projections released this week by the Department of Energy, who expects diesel to average $3.87 a gallon this summer.

The price of diesel is still up 8.2 cents from the same week a year ago, according to the EIA, and some of the yearly regional differences are even higher. The Central Atlantic region’s price is 24.6 cents higher than the same week in 2013, and the New England region is 16.2 cents higher. The Rocky Mountain region is 14.8 cents higher.

ProMiles’ Fuel Surcharge Index also eported this week a 1.6-cent drop, bringing its reported national average to $3.885 a gallon, up 8.7 cents from the same week last year.

Per the EIA, prices also fell iin all regions, led by a 2.4-cent drop in the New England region, followed by a 2-cent drop in the Central Atlantic region and 1.6-cent drops in both the West Coast less California and Gulf Coast regions.

The New England region once again has the country’s most expensive diesel, $4.181 a gallon, followed by the Central Atlantic’s $4.156 and California’s $4.126.

The Gulf Coast region again had the U.S.’ cheapest diesel, $3.979, followed by the Lower Atlantic’s $3.927 and the West Coast less California’s $3.928.

  • Mike Smith

    Doesn’t seem to help much when food alone has gone up about 25% since last year. Denisons Chilly has gone from $1.29/$1.40 to a whopping $1.92 cents, at WM. We can thank an extra 100 million more people in our country, since the 1970′s, for this. Imagine what the cost of everything would be if not for this.

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  • PD McCloud

    Price of fuel may have dropped a penny or two per gal., but the cost of everything else it’s still on the rise. And, we have seen an overall increase in fuel prices from one year to the next for each of the past 10 years. Drop a penny this week, raise 2 cents next week. Where’s the overall benefit in that?