Diesel prices have dropped across the United States, according to the U.S. Energy Information Administration (EIA), with prices falling from a national average of $4.02 to $4.00. The pattern is consistent with what we saw last year when diesel prices spiked in the late winter and began dropping as spring approached. Currently, prices in the United States are about four cents lower than they were at this time last year.
After nine straight weeks of increases, diesel prices in the East finally dropped by two cents to $4.14. Due to the large spike with the cold weather, prices are still more than five cents more expensive than at this time last year, but it’s good to see a drop for the first time in quite awhile.
The biggest decrease in diesel prices came in New England where prices fell by five cents from $4.62 to $4.31. Prices here are no longer the most expensive in the country.
The most expensive diesel prices in the United States are now in the Central Atlantic region, though only by $0.001 over New England. Prices dropped four cents here, from $4.35 to $4.31, but ended up just a touch higher than New England’s.
The Lower Atlantic region did not see the huge increase in diesel prices that the other regions in the East did and this week prices dropped as little as possible from $3.974 to $3.973, which is the third lowest in the country.
Diesel prices in the Midwest dropped under $4 for the first time in a month with a two cent decrease to $3.99.
The least expensive diesel prices in the United States remain in the Gulf Coast as prices dropped by about a cent to $3.80 this week. The next lowest diesel prices in the country are 14 cents higher than in the Gulf Coast, so barring something unexpected, the lowest diesel prices in the U.S. will remain here for the foreseeable future.
After hitting $4 last week, diesel prices in the Rocky Mountains dropped by a cent to $3.99 and are two cents more expensive than this time last year.
Diesel prices in the West Coast dropped by two cents to $4.02, which is 14 cents less expensive than at this time in 2013.
West Coast less California
The West Coast without California features the second lowest diesel prices in the country once again and saw a drop of about two cents to $3.94 this week.
After New England and the Central Atlantic region, the biggest decrease in diesel prices in the United States came in California where prices dropped $0.025 down to $4.09.
The new projected diesel price for 2014 is up from previous projections due to prices being slightly higher than expected to start the year. The new projection is $3.85. In order to reach that, diesel would have to average $3.82 the rest of the year.
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