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Fuel prices continue a big decline with diesel posting its biggest weekly drop in recent memory, according to U.S. Energy Department figures.
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In the wake of diesel prices falling from an average of more than $4 per gallon nearly a year ago the U.S. Energy Department's Energy Information Administration has lowered its price forecast from last month’s prediction.
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Diesel prices continued their recent and steep decline into the New Year, aided by oil prices that are the lowest in nearly six years.
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The average price of on-highway diesel continued falling into final week of 2014, down significantly from its high for the year and hitting its lowest price since December 2010, according to the U.S. Energy Department.
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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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