What goes up, must come down, and retreating oil prices are finally having an impact on diesel prices, albeit a small one, as on-highway diesel was down two-tenths of a penny today to $2.596, the Energy Information Administration (EIA) reported.
Benchmark U.S. crude fell $1.14 to settle at $47.37 per barrel today while Brent crude, the international standard, lost $1.06 to $51.66 a barrel, The Associated Press reported.
Since July 3, diesel prices have been on the upswing, while oil prices have fluctuated, only to lose ground for several weeks running.
Seven of the EIA’s 10 reporting regions showed slipping prices while the Rocky Mountain, West Coast and California sectors saw increasing prices.
The Gulf Coast had the lowest prices today at $2.408, while California had the most expensive at $2.961 a gallon.
The Rocky Mountain reporting sector saw the biggest increase at 1.4 cents a gallon (to $2.714 a gallon), followed by California, which saw an increase of 1.2 cents a gallon to $2.961 a gallon.
For more details by region click here.