After a 4-cent-per-gallon dive last week, diesel prices continued their downward plunge Monday, sliding 3.5 cents to $2.489 a gallon from $2.524 the week of June 12.
All 10 of the Energy Information Administration’s reporting regions registered a slide, following oil prices down the chute.
Diesel prices took a hike of 3.2 cents May 30 on news that OPEC had extended oil production cuts, but since then both oil and diesel prices have been going down.
Diesel is still the most expensive in California, at $2.884 Monday compared with $2.906 the week prior.
The Midwest EIA region saw a drop of 4.3 cents a gallon while truckers saw the next biggest drop of 3.9 cents a gallon in the Gulf Coast area.
Diesel prices for all EIA sectors can be seen here.
Oil prices steadied somewhat in trading on Monday after prices dropped 13 per cent in late May after rising production in the United States, Libya and Nigeria overshadowed OPEC’s supply cut.
Brent futures for August were down 4 cents to $47.33 per barrel by 11:39 a.m. Monday, and one day before the July contract expires, U.S. crude for July was down 9 cents to $44.65 a barrel, news sources reported.