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Diesel Prices Continue Sliding Toward Lows

November 30, 2015

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Source: EIA
Source: EIA

Diesel and gasoline prices continued to fall across the country, approaching new lows for 2015, according to the latest numbers from the Energy Department.

The average price of a gallon of on-highway diesel fuel dropped 2.4 cents for the week, settling at $2.421, the new low for the year. The price is $1.184 per gallon cheaper than it was in the same week a year ago.

Prices were mostly down in all regions of the U.S., with the Midwest seeing the largest drop in prices at 3 cents per gallon. The New England region saw a slight uptick in prices of 0.3 cents per gallon.

Gasoline prices were also down last week, falling 3.5 cents to bring the national average price to $2.059 per gallon. This is the lowest price of 2015 since Jan. 26. The price is 71.9 cents cheaper than the same week in 2014.

The largest decrease in prices by region was a 5.8-cent drop in the Midwest while, similar to diesel prices, New England saw a small increase of 0.2 cents.

Crude oil continues to show mixed results on the stock market with prices falling on Monday, according to a Wall Street Journal report. After early gains, the price of a barrel of crude oil fell on reports that U.S. production was not drawing down quickly enough to adjust to decreased global demand.

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