The average price of diesel fuel finally fell last week, breaking a streak of steady increases that started in late February when the price of oil began to rally, according to the latest numbers from the Energy Department.
The price of on-highway diesel fuel dropped 0.6 cents last week, settling at $2.115 per gallon. That price is 66.9 cents cheaper than it was for the same week in 2015.
Price changes varied by area with the largest decrease in prices occurring in the Gulf Coast region with a 1.8-cent drop. The largest increase in prices was in the Rocky Mountain region with a 2.9-cent jump.
Regular gasoline prices continued to increase last week, gaining 1.7 cents and settling at $2.083 per gallon. That price is still 33 cents cheaper than it was a year ago.
Gas prices were up in all regions with the largest increase coming to the Midwest at 3.1 cents per gallon. The smallest increase for the week was in the Lower Atlantic region at 0.2 cents.
Crude oil prices hit some of the lowest levels in a month as the market remained skeptical that OPEC member countries would agree to freeze oil output to match the lower global demand, according to a MarketWatch report.
While OPEC is set to meet on April 17 to discuss prices, Russia hit a record high for oil production in March and analysts contend that it is unlikely the supply glut will undergo meaningful reduction in the near term.