The last time the cost of diesel actually increased from week to week was back when the calendar turned from August to September, and that trend continued this week in the United States. According to the Energy Information Administration (EIA), diesel prices across the United States dropped again. It makes the 11th consecutive week that prices have either dropped or remained the same. The new average diesel price in the U.S. is down to $3.822 from $3.832 last week.
Every region saw diesel prices either drop or remain the same, but the biggest drop in the country came in California, where prices went from $4.055 last week to $4.022 this week. In the last two weeks, diesel prices in California have dropped seven cents and more than 20 cents in the last two months.
The only region close to that large of a decrease was in the West Coast as a whole, which includes California in its pricing. Outside of the West Coast, the next biggest drops were on the East Coast ($3.841 from $3.855) and the Lower Atlantic ($3.779 from $3.793).
The least expensive diesel prices remain in the Gulf Coast, and have been there since early April. The Gulf Coast prices decreased, but only slightly, from $3.752 to $3.745.
The most recent drop in diesel prices this week comes on the heels of the EIA having released its new Short-Term Energy Outlook for the month of November. The report details the projection of diesel prices for the remainder of 2013 and into 2014. The most recent report projected diesel prices to be at $3.93 in 2013, but that has dropped to $3.91. The projection for 2014 has also dropped, from $3.76 to $3.73. In order for diesel prices to average $3.91 in 2013, diesel will need to be an average of $3.773 over the final six weeks of the year.
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