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The average cost of on-highway diesel posted one of its biggest week-over-week declines of the year on Monday, hitting its lowest level since January 2011.
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On-highway retail diesel are projected to average $3.07 per gallon in 2015, compared to this year’s expected average of $3.82 and 2013’s average of $3.92.
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The average cost of on-highway diesel continues falling as oil prices hit its lowest level in years, according to new U.S. Energy Department figures.
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Fuel prices started off the final month of 2014 in the same fashion they have been during much of the second half of the year, according to new U.S. Energy Department figures.
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Diesel and gasoline prices keep moving lower while the price of oil has gained a little ground over the past week.
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The average price of on-highway diesel fuel moved lower over the past week, after seeing its first increase since June last week, according to the U.S. Energy Department’s weekly report on Monday.
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The long ride of falling diesel prices has ended with the fuel posting its first weekly increase since late June, according to new U.S. Energy Department figures.
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Fuel and crude oil are continuing down the road toward lower prices, hitting levels not seen in at least nearly two and half years.
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U.S. Diesel demand will peak in 2015 and decline by as much as 12.5% through 2030 according to a report by energy market research firm PIRA Energy Group.
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Fuel prices show few signs of stopping their recent decline, and if expectations about oil prices into next year come to fruition, the ride may continue for a lot longer.
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