LITTLE ROCK, Ark. — Though in small increments, the average price for a gallon of diesel fuel in the U.S. has been in steady decline for more than a month thanks to shrinking oil demand and a more stabilized petroleum market.
According to the Energy Information Administration (EIA), the average price as of Dec. 12 rings up to $4.754 per gallon, down from $4.967 on Dec. 5 and $5.141 on Nov. 28. Prices have been slowing falling since Nov. 7.
Year to date, however, the average is still well above a dollar more per gallon than current averages, according to EIA statistics.
Along the nation’s Gulf Coast, the average price for a gallon of diesel sits at $4.344 on Dec. 12, the lowest price in the nation.
In California, which always has the highest prices due to stricter regulations, the average is $5.562 per gallon.
A recent pipeline leak in Kansas could cause prices to spike again.
A ruptured pipe dumped enough oil into a northeastern Kansas creek on Thursday, Dec. 8, to nearly fill an Olympic-sized swimming pool, becoming the largest onshore crude pipeline spill in nine years and surpassing all the previous ones on the same pipeline system combined, according to federal data.
Energy experts say that if the pipeline is shut down for more than a week, prices at the pump will start to increase after finally falling for the first time in more than a month.
Benchmark U.S. crude oil for January delivery rose $2.15 to $73.17 a barrel Monday. Brent crude for February delivery rose $1.89 to $77.99 a barrel.
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.