Average Cost of Diesel Edges Slightly Lower
September 16, 2013
After pausing last week, the average cost of diesel in the United States has resumed falling.
The U.S. Energy Department's new report shows a decline of 0.7 cent over the past week, registering $3.974 per gallon.
Compared to the same week in 2012 diesel is down 16.1 cents per gallon, while before a hike two weeks ago, taking it to $3.981, the last time diesel was more than this, was in early April when it hit $3.977. Last week diesel was unchanged from the week before.
Prices fell in all regions but the Rocky Mountain states, where it increased less than a cent to $3.941.
Diesel ranges from a low of $3.889 in the Gulf Coast states, down 0.9 cent over the past week, to a high of $4.138 in the West Coast region, down 0.4 cent during the same time.
The price of gasoline fell 4 cents over the past week to a U.S. average of $3.547 per gallon, the second straight weekly decline.
Compared to the same time a year ago gasoline is 33.1 cents per gallon cheaper while it’s just over six cents less than two weeks ago.
Prices fell in all parts of the U.S. except in the West Coast region, where it gained 10.3 cents for an average of $3.90 per gallon, also the highest priced region in the country
The lowest prices region is the Gulf Coast, where it fell 7.6 cents over the past week
Crude on Monday fell $1.62 per barrel in New York trading, settling at $106.59 for the day. It is down nearly $2.50 over the past week, due to some easing in international tensions over Syria, which pushed crude up recently to a more than two-year high before the U.S. agreed to a Russian brokered deal over Syrian chemical weapons.