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Diesel Prices Barely Changed Last Week

November 28, 2016

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Source: EIA
Source: EIA

The average price of diesel fuel in the U.S. was nearly flat during the week of Thanksgiving, according to the latest numbers from the Energy Information Administration.

The price of on-highway diesel fuel dropped by 0.1 cents last week, settling at $2.42 per gallon at the pump. The price was also nearly equal to prices in the same week of 2015, being only 0.1 cents cheaper by comparison.

When broken down by region, prices were relatively unchanged with average prices increasing or decreasing by less than a cent across the country. The largest decrease was in the Gulf Coast where prices fell by 0.6 cents while the largest increase in prices was in the Lower Atlantic region, rising 0.6 cents.

Gas prices were also on a plateau last week, with the average price of regular gasoline decreasing by 0.1 cents to $2.154 per gallon. The price of gasoline is now 9.5 cents more expensive that it was in the same week a year ago.

The largest decrease in prices occurred in the Rocky Mountain region where prices fell by 3.9 cents. The largest increase in prices was in the Midwest with a 2.5- cent jump.

Crude oil prices were volatile over the past week as the market continues to react to rumors of a production freeze by major oil producing countries.

Prices were up on Nov. 28 in anticipation of a meeting of OPEC countries that is set to take place this week. A freeze in oil production would be a major step in addressing a global oil supply glut that has driven down prices in the past year.

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