The average price for a gallon of diesel nationwide fell 1.1 cents for the week ending May 13, to currently stand at $3.160 per gallon, according to the U.S. Energy Information Administration (EIA).
The just-concluded week continued in exaggerated fashion a pattern that has developed over the past few weeks. While prices along entire the West Coast rose, they dropped everywhere else in the nation. Although no region experienced much a shift, the gains on the West Coast were more significant that the drops elsewhere, which left the national average so close to evening out.
The largest price change occurred in California, where the average price of diesel rose 3.9 cents, to $4.136 per gallon, about 70 cents higher than the next-highest region, the Central Atlantic.
The rest of the West Coast saw a price jump of a penny, to stand at $3.355. Combined, the average price along the West Coast is now $3.790.
Currently, diesel is 20.7 cents more per gallon in California than it was one year ago, while it is cheaper everywhere else in America.
Along the East Coast, the price of diesel fell an average of 1.4 cents. Breaking it down regionally, the price fell by the same amount in the Central Atlantic, to finish at $3.365, while dipping by 1.6 cents in the Lower Atlantic, to $3.035; and by 0.7 cents in New England, where diesel is now $3.238.
The largest price decline took place in the Gulf Coast region, which has the lowest prices in the country, now $2.905. The Midwest did almost as well, with a drop of 1.8 cents, to finish at $3.046. Prices fell in the Rocky Mountain region by 0.5 cents, to stand at 3.181. Year-to-date, the Rocky Mountain region currently enjoys the largest drop in diesel prices, 13.5 cents per gallon.
On Monday, Brent crude, the global benchmark, lost 39 cents, or 0.6%, to settle at $70.23 a barrel. U.S.-based West Texas Intermediate crude dropped 62 cents, or 1%, to settle at $61.04 a barrel.
Click here for a complete list of average prices by region for the past three weeks.
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