Diesel prices resume trickling downward

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After a two-week jump of nearly eight cents a gallon, diesel prices returned to the pace it set all summer. The average price for a gallon of diesel nationwide slipped 1.5 cents for the week ending September 30 to stand at $3.066, according to the U.S. Energy Information Administration (EIA). Last week prices jumped by nearly a dime, putting the national average above $3 for the first time since August 12.

Diesel is running 24.7 cents below what it was this time last year.

Diesel prices dropped by small amounts in every region except the one that could use it most, California, where diesel prices held steady at $3.97. California not only has by far the highest diesel prices in the nation, but prices there are the least improved over last year, just 6.2 cents.

The rest of the West Coast saw a 1-cent reduction in diesel for the week, to stand at $3.228, bring the West Coast overall average to $3.645.

Meanwhile the Gulf Coast region, which has the lowest diesel prices in the nation, enjoyed the largest decrease this week. Diesel dropped 3.1 cents, to $2.827.

Diesel prices on the East Coast overall continue to be close to the national average. Taken as a whole, diesel stands at 3.065 on the East Coast. However, in the Lower Atlantic, diesel is $2.948, following a drop of 2.3 cents. In the Central Atlantic, diesel is $3.238 after a 1.4 cent drop. New England also had a drop of 1.4 cents, to stand at 3.056.

Diesel only dropped by half a cent in the Midwest, to $2.987, while in the Rocky Mountain region, diesel fell a barely perceptible 0.2 cents, to stand at 3.032.

On Monday, Brent crude, the global benchmark, dropped $1.13, or 1.83%, to stand at $60.78 a barrel. U.S.-based West Texas Intermediate crude was also down, $1.61, or 2.88%, to $54.30 a barrel.

Click here for a complete list of average prices by region for the past three weeks.

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