LITTLE ROCK, Ark. — The average U.S. price for a gallon of diesel fuel is falling after weeks of seemingly unending increases.
According to the Energy Information Administration (EIA), as of Tuesday, a gallon of diesel stood at just over $5.50 per gallon across the nation, down from just over $5.70 on June 27.
The EIA report notes that the highest price for diesel is on the West Coast at more than $6.285 per gallon, which is down from more than $6.40 a gallon on June 27.
The nation’s lowest diesel prices can be found along the Gulf Coast, according to the EIA, where a gallon can be found for $5.20 a gallon.
Meanwhile, the average U.S. price of regular-grade gasoline plunged 19 cents over the past two weeks to $4.86 per gallon.
Industry analyst Trilby Lundberg of the Lundberg Survey that the continued decline comes as crude oil costs also fall.
“Assuming oil prices do not shoot up from here, motorists may see prices drop another 10-20 cents as the oil price cuts continue making their way to street level,” Lundberg said in a statement.
The average price at the pump is down 24 cents over the past month, but it’s $1.66 higher than it was one year ago.
Nationwide, the highest average price for regular-grade gas was in the San Francisco Bay Area, at $6.14 per gallon. The lowest average was in Baton Rouge, Louisiana, at $4.19 per gallon.
According to the survey, the average price of diesel dropped 13 cents since June 24 to $5.76 a gallon.
Benchmark U.S. crude oil for August delivery fell $8.25 to $95.84 a barrel Tuesday. Brent crude for September delivery fell $7.61 to $99.49 a barrel.
Wholesale gasoline for August delivery fell 20 cents to $3.26 a gallon. August heating oil fell 11 cents to $3.66 a gallon. August natural gas fell 27 cents to $6.16 per 1,000 cubic feet.
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.