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Average Diesel Cost Falls, Gasoline Increases

March 17, 2014

By Evan Lockridge

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The average cost of diesel moved lower over the past week, but is still above the $4 per gallon level for the fourth straight week.

Diesel checked in at $4.003 per gallon, down 1.8 cent, according to a new U.S. Energy Department report released Monday. Compared to a year ago the price is down 4.4.

Prices are down in all the different parts of the country over the past week, ranging from as little as 0.1 cent in Lower Atlantic section, averaging $3.973, to as much as 4.9 cents less in New England, averaging $4.313, home of the second highest average price in the U.S.

The lowest average price is in the Gulf Coast region at $3.803, down 1.1 cent from a week ago.

Compared to the same time a year earlier, prices are down in all regions except in the Rocky Mountains, up 2 cents to $3.991 and in the East Coast region, up 5.6 cents for an average $4.138.

Two of the three sections that make up the East Coast region, the New England and the Central Atlantic sections, have seen increases during this same time of 10.9 cents and 17.4 cents, respectively, with the Central Atlantic sub region coming in at $4.314, the highest priced part of the country.

Meantime, the average U.S. price of gasoline has added 3.5 cents over the past week for $3.547. Compared to a year ago the price is 14.9 cents lower.

Prices range between a low of $3.283 in the Gulf Coast region, up 3.1 cents from last week, to a high of $3.81 per gallon, 5.5 cents more over the same time period. Price increased in all parts of the country during this time, except in the Central Atlantic section, falling 0.4 cent to $3.593

Finally, the price of oil fell on Monday by 81 cents, settling at $98.08 in New York. Compared to a week ago the price is down nearly $3. This happened as the U.S. and other western nations put sanctions on Russia on Monday for its intervention in Crimea and feelings they will have little effect on oil and natural gas supplies, however tougher sanctions could be leveled later on.

Comments

  1. 1. Joe Fazio [ March 21, 2014 @ 05:04PM ]

    Should be interesting to see what happens next year when the Marine industry mandates ULSD. Now is the time for Class 8 fleets to dip their toe in the water with natural gas.

 

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