National average on-highway diesel prices took a 4-cent nose dive Monday, ringing up at $2.524 compared with $2.564 last week, the Energy Information Administration (EIA) of the U.S. Department of Energy reported.
The last time diesel decreased even near that much was August 1, 2016, to August 8, 2016, when it went down 3.2 cents, from $2.348 to $2.316.
All of the EIA’s 10 reporting sectors showed decreases, some more than others. For example, the New England reporting region only went down a penny, from $2.624 June 5 to $2.614 Monday, while the Midwest sector went down 5.1 cents, from $2.505 last week compared with $2.454 Monday.
In the Gulf Coast reporting region, truckers also saw a hefty downturn, from $2.417 last week to $2.368 Monday, or 4.9 cents.
For prices for each region click here.
For anyone watching oil prices slide, the diesel price downturn should come as no surprise. Last week oil prices plummeted, regained some on Friday and Monday things were looking up as benchmark U.S. crude added 25 cents to $46.08 a barrel in New York. Brent crude, used to price international oils, added 14 cents to $48.29 a barrel in London. Among energy companies, Exxon Mobil rose 80 cents, or 1 percent, to $82.93 and Chevron picked up $1.64, or 1.5 percent, to $108.04, The Associated Press reported.