The average price for a gallon of diesel nationwide fell by 0.7 cents for the week ending July 22, to currently stand at $3.044 per gallon, according to the U.S. Energy Information Administration (EIA).
The lack of movement in diesel prices continues a pattern that has been going on for the past month. On June 24, diesel was at 3.042, with changes of less than 1.5 cents every week in between.
Though tiny, the movement in diesel prices was nearly unanimous this past week, down in all but one region of the country. That one exception was the Rocky Mountain region, where diesel rose 0.3 cents, to $2.978. Year-to-date, diesel prices are lower in every region, with the Rocky Mountain region again being the standout, having the greatest difference, 39.1 cents from this time last year.
California made it a clean sweep for lower diesel prices year-to-date with a drop of 1.3 cents this past week, to $3.939, still by far the highest in the country, but 0.4 cents below this time last year.
Along the rest of the West Coast, diesel dropped 1.1 cents to $3.198, bringing the overall West Coast average to $3.611 per gallon.
The average along the East Coast is currently $3.072, with prices highest in the Central Atlantic, where diesel is going for $3.259 after a 1.3-cent drop. Diesel is $3.122 in New England following a decrease of 0.9 cents over the past week, while in the Lower Atlantic region diesel slipped by 0.4 cents to stand at $2.937 per gallon.
That’s still slightly better than the Midwest, where diesel is going for $2.948 per gallon after a drop of 0.8 cents. Meanwhile, the Gulf Coast, the low-price leader in diesel, fell by the same 0.1 cent it gained the week before to stand at $2.804.
On Monday, increasing tensions between Iran and Western countries failed to produce a sharp reaction in the crude oil markets. Brent crude, the global benchmark, rose 98 cents, or 1.57%, to settle at $63.45 a barrel. U.S.-based West Texas Intermediate crude rose 59 cents, or 1.06%, to settle at $56.22 a barrel.
Click here for a complete list of average prices by region for the past three weeks.