Diesel Prices Approach 2015 Lows

October 26, 2015

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Source: EIA
Source: EIA

Continuing a downward trend, the price of a gallon of diesel gasoline hit near year-low levels last week, according to the latest report from the Energy Department.

The price of a gallon of on-highway diesel fuel dropped 3.3 cents to $2.498 per gallon. The per-gallon price is $1.137 cheaper than in the same week a year ago. After increasing for a few weeks, the price dropped for the second straight week bringing it closer to the $2.476 per gallon 2015-low that was reached on Sept. 28. 

Prices were down in most locations with the Midwest seeing the largest regional decrease at 6 cents per gallon. California saw the only regional increase with a 0.5-cent jump.

Gasoline prices were also down this week, dropping by 4.9 cents to settle at $2.228 per gallon. The price is 82.8 cents cheaper than the same week a year ago.

The largest decrease came to the Midwest region, dropping by 7.2 cents and the smallest decrease was posted in New England dropping by 1.9 cents.

Crude oil prices hit 2-month lows on Monday as investors remained concerned about lower global demand being outstripped by supply, according to a Market Watch report.

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