The average price for a gallon of diesel fell again this week, this time by just over four cents per gallon. California’s drop has led the way this week.
According to the weekly report from the U.S. Energy Information Administration (EIA), the averge price for a gallon of diesel fell from $5.639 to $5.596, a drop of 4.3 cents per gallon over last week.
Every reporting region reflected a drop in its price, except for two.
The Rocky Mountain Region rose by nearly six cents per gallon from $5.491 to $5.549.
The West Coast less California, increased slightly by a cent and a half from $5.905 to $5.920.
Most regions reported decreases around the four-cent mark. A notable exception was in California where the price dropped by nearly 10 cents per gallon from $7.321 to $7.222.
Benchmark U.S. crude lost 41 cents to $103.97 a barrel, according to the reporting from the Associated Press. Brent crude, the international standard, dipped 95 cents to $111.15 a barrel.
Oil prices have gyrated wildly, but largely remained above $100 with the unofficial U.S. driving season beginning Monday, AP reported. Prices rocketed higher after the Strait of Hormuz was effectively closed by bordering Iran, preventing oil tankers from delivering crude. Japan, for instance, imports just about all its oil, much of it previously through the strait.
The average price for a gallon of gasoline rose again overnight to $4.53, according to the AAA motor club, or about 43% more than it cost last year at this time.
The price for a barrel of Brent crude oil was about $70 before the war. It fell after President Donald Trump said in a social media post that he was holding off on a military strike on Iran planned for Tuesday because “serious negotiations” are underway to end the war.
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
