Fuel Smarts

Average Diesel Cost Falls for Seventh Straight Week to $3.835

August 18, 2014

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The average cost of on-highway diesel in the U.S. continues slowly moving lower, posting its seventh consecutive weekly drop, according to new U.S. Energy Department figures.

It declined 0.8 of a cent from last week to $3.835 per gallon, which is 6.5 cents lower than the same time last year. Over the past seven weeks it has moved down 8.5 cents and is currently at its lowest price since last mid-November.

All of the DOE parts of the country reported price declines over the past week, with the exception of California, where it moved up 0.2 cent from last week for an average of $4.086. The largest drop was in the Central Atlantic section of the country, 1.4 cent, for $3.96 per gallon.

Trucking’s main fuel now ranges from a low of $3.739 in the Gulf Coast states, down 1.1 cent from a week ago, to a high of $4.015 in the West Coast, 0.1 cent less during the same time.

Compared to a year ago prices in all parts of the country are down from just fractionally in Central Atlantic states to 8.8 cents in the Midwest at $3.78.

Likewise, the average cost of regualr grade gasoline continues its decline, falling 3.3 cents from last week, for an average of $3.472, which is 7.8 cents less than the same time in 2013. 

The results were posted after the price of oil retreated Monday in New York trading, falling 94 cents and settling at $96.41 per barrel as worries about violence in Iraq and its effect on the country’s oil production faded. Compared to last Tuesday’s opening price it is down nearly a dollar.

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