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Diesel Price Reversal Ends 14-Week Decline

September 8, 2015

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Source: EIA
Source: EIA

The average price of a gallon of on-highway diesel fuel rose for the first time in 3 ½ months  according to the latest numbers from the U.S. Energy Department.

The national average price of diesel fuel rose by 2 cents to $2.534 per gallon. The price is still down $1.28 compared to a year ago.

Prices were up in nearly all regions except for New England which saw a 1-cent decrease for the week. The largest increase occurred in the West Coast region with an increase in price by 2.3 cents.

Gasoline prices did not follow suit and instead dropped by a significant margin last week. The national average price dropped by 7.3 cents coming in at $2.437 per gallon.

By region, the largest decrease occurred in Midwest where prices fell by 12.3 cents for the week. The smallest drop occurred in the Central Atlantic region with a 2.4-cent decrease per gallon.

After finally increasing in price last week in an uncertain stock market, per barrel crude oil prices settled below $50 again, according to a Market Watch report. Prices are unstable but had rebounded on Tuesday after falling earlier in the week. Falling demand and high supply levels have mostly led to declining oil prices throughout most of 2015.

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