Wednesday, May 23, 2018

Diesel prices post modest decline for second week, except in New England


Monday, December 11, 2017
by KLINT LOWRY The Trucker staff

The price of diesel fell during the past week. But only by an average of 1.2 cents per gallon nationwide. (The Trucker file photo)
The price of diesel fell during the past week. But only by an average of 1.2 cents per gallon nationwide. (The Trucker file photo)

For the second week in a row, on-highway diesel prices dipped a bit, with the national average slipping 1.2 cents from $2.922 to $2.910, according to the Energy Information Administration (EIA).

Last week, New England and the Gulf Coast were the only two of EIA’s reporting sectors to see prices go up. This week, the Gulf Coast region eked out a price reduction of eight-tenths of a penny, from $2.713 to $2.715, leaving New England as the only region not to see a reduction. There, diesel prices rose, although only by three-tenths of a cent, from $2.897 to $2.900. Overall, the East Coast was fairly steady, dropping three-tenths of a cent, from $2.904 to $2.901 a gallon, with prices only inching down two-tenths of a cent, from $3.062 to $3.060 in the Central Atlantic region.

The price drop was a little more pronounced in the western part of the country, but only relatively so. The West Coast less California saw the largest price drop per gallon, 3.4 cents, from $3.106 to $3.072. Diesel fell 2.5 cents in California, where prices remain the highest in the country, at $3.560.

Meanwhile, diesel prices slipped below the $3 plateau in the Rocky Mountain region after a second week on a downhill trajectory, sliding 2.8 cents from $3.019 to $2.991.

Benchmark U.S. crude gained 43 cents to $57.79 per barrel Monday on the New York Mercantile Exchange. Brent crude, the international standard, rose $1.27, or 2 percent, to $64.67 per barrel in London.

For more about diesel prices click here.

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