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Average Diesel Cost Lowest Since July 2012, Hits $3.814

September 2, 2014

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UPDATED -- The average cost of on-highway diesel in the U.S. has fallen for the ninth straight week, hitting $3.814 per gallon, its lowest price since early July of 2012.

The U.S. Energy Department’s weekly price survey shows its down 0.7 cent from last week and 10.6 cents less than when diesel last moved higher at the end of July. Compared to the same time a year ago it is 16.7 cents less.

Prices retreated over the past week in all parts of the country, except in the West Coast region, where it added 2 cents, registering $4.03, also the highest priced part of the U.S.

The least expensive price for diesel is in the Gulf Coast region, down 1.2 cent from last week, at $3.72 per gallon.

Compared to the same time a year ago, prices in all the different parts of the country are less, with the greatest drop being 21.5 cents in the Midwest for an average of $3.752.

In contrast, the average price of regular grade gasoline increased for the first time since mid-June, picking up 0.5 cent from last week, registering $3.459 per gallon.

Before this increase it has fallen 25 cents over eight weeks, but it still 14.9 cents less this week than the same time in 2013.

The overall hike was led by price gains in the Lower Atlantic and Midwest parts of the country, along with the East Coast to a lesser extent, with gasoline now ranging from a high of $3.797 in the West Coast region to a low of $3.216 in the Gulf Coast region.

Meantime, the average cost of crude oil dropped more than $3 in New York trading on Tuesday, settling at $92.88 per barrel, settling at its lowest level since mid-January, after it posted a gain last week for the first time in five weeks.

The price was pushed down to Tuesday due to lower than expected economic numbers from China, despite positive economic news in the U.S. Last week it moved higher due to lingering concerns about tensions over Ukraine and encouraging U.S. economic numbers.

Update adds gasoline prices.

Comments

  1. 1. Deny Dolman [ September 05, 2014 @ 07:49AM ]

    not in Washington state it is going up big time

 

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