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Diesel 98 Cents Cheaper Than a Year Ago

For the seventh straight week, the average price of diesel fuel decreased. Gasoline saw a slight increase.

by Staff
December 29, 2015
Diesel 98 Cents Cheaper Than a Year Ago

 

2 min to read


Source: EIA

For the seventh straight week, the average price of diesel fuel decreased while gasoline saw a slight increase, according the most recent numbers from the Energy Department.

The average price of a gallon of on-highway diesel fuel dropped 4.9 cents last week, settling at $2.235 and once again setting a new low for 2015. At the end of a year in which crude oil prices consistently fell, the price of diesel today is 97.8 cents cheaper than it was a year ago.

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The largest decrease in prices occurred in the Rocky Mountain region, where diesel fell 7.7 cents from the previous week. The smallest decrease was in California, where prices dropped by a negligible 0.2 cents per gallon.

The national average price for regular gasoline actually increased this week, rising 0.8 cents per gallon to $2.034. The price is still 26.5 cents cheaper than it was in the same period last year.

While prices were down in most places, a 6-cent per gallon increase on the West Coast and a 2.7 cent increase in the Midwest drove the national average higher for the week. The largest decrease in prices was in New England-- 2.4 cents.

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The price of crude oil increased on Dec. 29, as the stock market prepared for official data on reductions in U.S. oil supply, according to a Wall Street Journal report. While crude oil is still trading near decade lows and is expected to stay there, an official report indicating a decrease in U.S. oil production should keep prices at or above current levels.

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