Heavy Duty Trucking Logo
MenuMENU
SearchSEARCH

Diesel Costs Continue Falling as Oil Prices Keep Sliding

On Monday the U.S. Energy Department reported the sixth consecutive drop in the average price of diesel, down 4.2 cents from last week to $3.656.

Evan Lockridge
Evan LockridgeFormer Business Contributing Editor
October 20, 2014
Diesel Costs Continue Falling as Oil Prices Keep Sliding

 

2 min to read


Prices for fuel keep moving lower as oil costs are at some of their lowest levels in at least two years.

On Monday the U.S. Energy Department reported the sixth consecutive drop in the average price of on-highway diesel, down 4.2 cents from last week to $3.656. Factoring in weeks when the average diesel price was unchanged from the week before, diesel prices haven't increased since late June.

Ad Loading...

The current price compares to a high for the year of $4.021 hit on March 10 and is the lowest since July 2012. It's 23 cents less than same time a year ago.

Prices are down in all parts of the country over the past week, with the smallest decline happening in the Rocky Mountain region, 1.2 cents, for an average of $3.738. The biggest drop occurred in New England, down 6.4 cents for an average of $3.751 -- still the second most expensive part of the country.

Diesel ranges from a low of $3.589 in the Gulf Coast region, down 4.8 cents from last week, to a high of $3.835 in the West Coast region, a 5.6-cent drop during the same time. Compared to a year ago the regions are down at least 21 cents per gallon.

Ad Loading...

The average cost of regular grade gasoline posted an even bigger decline over the past week, falling 8.7 cents to $3.12 per gallon. Compared to this time last year the price is 24 cents less.

Regionally, prices are down by at least 5.6 cents over the past week and are at least 17.6 cents less compared to the same time last year.

Gasoline ranges from a low of $2.912 in the Gulf Coast region to a high of $3.424 in the West Coast region.

Meantime, the price of crude barely moved lower on Monday, but it is down more over the past week, after briefly going below the $80 per barrel level in trading last Thursday. It settled at $82.71 in New York, four cents lower on the day but down more than $2 from where it opened last Tuesday.

Last week U.S. oil lost 3.6% and is down for three consecutive weeks. Brent crude in London has fallen for four consecutive weeks, including losing nearly 5% last week. These are near two-year and four-year lows, respectively.

Ad Loading...

Analysts attribute the recent decline to increasing supplies of U.S. crude while worldwide demand is falling, due in part to less economic growth in some countries. So far, the OPEC oil cartel hasn’t signaled it’s poised to do anything about lower prices, with its next meeting not scheduled until the end of November.

More Fuel Smarts

A GP Transco tractor-trailer crosses a bridge over a river, with trailer side skirts visible beneath the white trailer.
Fuel Smarts•by Deborah Lockridge•October 27, 2026

How GP Transco Builds Fuel Savings a Fraction at a Time

Aerodynamic specs, solar panels, and driver incentives help GP Transco turn small efficiency gains into savings it can reinvest in its people.

Read More →
Man on large stage with American Trucking Associations logo in the background and large screen displays of distillate stocks.
Fuel Smarts•by Deborah Lockridge•October 20, 2026

Trucking’s Diesel Squeeze Isn’t Letting Up

With diesel topping $6 a gallon nationally, ATA's Bob Costello explains why fleets should prepare for continued pressure at the pump.

Read More →
Computer rendering showing airflow around a trailer’s tandem wheels equipped with FlowBelow AeroSlider fairings and wheel covers.
Fuel Smarts•by Deborah Lockridge•October 18, 2026

FlowBelow Redesigns Trailer AeroSlider to Cut Fuel Use

The lighter trailer aerodynamic system installs in less than 45 minutes, according to the company, with potential payback in under a year depending on fuel prices and trailer mileage.

Read More →
Ad Loading...
Illustration with oil wells, dollar bills, and a diesel fuel pump
Fuel Smarts•by Deborah Lockridge•October 14, 2026

Why Diesel Price Relief Efforts May Fall Short

Diesel prices have eased from September’s record high, but doubts about additional Russian supply and limits on dyed-diesel tax relief mean trucking fleets still face expensive fuel. And prices could go higher.

Read More →
Video thumbnail with text: Fuel -- small gains, big savings.
Fuel Smarts•October 12, 2026

Why Small Fuel Savings Matter in Trucking

Can better fuel economy help pay for driver raises? In this podcast, GP Transco explains how small efficiency gains create room to reinvest in its people.

Read More →
Youtube thumbnail showing two people with a truck and the word "fuel" behind them, the HDT Talks Trucking logo, and the words "Small Gains. Big Savings."
Fuel Smarts•by Deborah Lockridge•October 12, 2026

How GP Transco Cuts Trucking Fuel Costs, a Tenth of a Gallon at a Time

What’s another tenth of a mile per gallon worth? GP Transco shares how equipment upgrades and driver coaching turn small gains into meaningful fuel savings.

Read More →
Ad Loading...
Photo of electric OrangeEV terminal tractor with a Lazer Logistics trailer
Equipment•by Staff•October 6, 2026

Electric Yard Tractors Move Beyond Pilots

Operating-cost savings have overtaken sustainability goals as the leading reason surveyed fleets are adopting battery-electric terminal tractors, according to new NACFE research.

Read More →
Illustration of map with GPS markers overlaid with Geotab fleet card and a fuel pump nozzle
Fuel Smarts•by Staff•October 2, 2026

Geotab Links Fleet Card to Vehicle Data

The new card combines fuel discounts with telematics-based purchase controls. Geotab’s analysis also points to potential savings from choosing lower-priced fuel stops.

Read More →
White Tesla Semi electric truck on display on a show floor
Equipment•by Staff•September 30, 2026

Fleet Economics Shape Electric Truck Outlook

ACT Research expects costs, charging infrastructure, and technology improvements to drive zero-emission commercial vehicle adoption as federal regulations and incentives retreat.

Read More →
Ad Loading...
Male truck driver in flannel shirt by truck using his smartphone
Fuel Smarts•by News/Media Release•September 23, 2026

Wex Adds Cardless Fuel Payments for Over-the-Road Customers

A new fuel card feature for Wex customers offers convenience and security.

Read More →