Diesel Prices in U.S. Drop for Second Straight Week

Diesel Prices in U.S. Drop for Second Straight Week

Diesel prices are down again, according to the U.S. Energy Information Administration (EIA). After two weeks of prices rising, diesel prices are down to $3.948 in the United States, which is the lowest they’ve been since late January when they were down to $3.904. In spite of the drop, prices are still more than eight cents higher than at this time in 2013.

East Coast
The drop in diesel prices on the East Coast continues as prices have fallen by a bit more than a cent from $4.055 to $4.041 this week. The last time diesel prices were below $4 was January 27, 2014. Drivers on the East Coast hope that barrier is broken soon.

New England
The biggest drop in diesel prices in the country is in New England, though prices are still higher there than anywhere in the country. Diesel prices fell by more than two cents this week to $4.16 and are down more than 23 cents since early March.

Central Atlantic
The second highest diesel prices in the United States are in the Central Atlantic region where prices dropped by two cents to $4.16. Prices never reached quite as high in the Central Atlantic region as they did in New England, so these prices are down just more than 20 cents from late February.

Lower Atlantic
In contrast with the other two regions on the East Coast, the Lower Atlantic has seen diesel prices hold fairly steady over the last few months, but did see a drop of a bit more than a cent to $3.93 and are the third lowest prices in the country.

Diesel prices have fallen quite a bit in the Midwest over the last few weeks. After reaching as high as $4.03 in late February, prices fell by more than a cent this week and are now down to $3.921.

Gulf Coast
The least expensive diesel prices in the United States have been in the Gulf Coast region for the last 59 weeks, and that doesn’t appear to be changing any time soon. Prices fell from $3.813 to $3.797, dropping below $3.80 for the first time in almost a month.

Rocky Mountain
Diesel prices in the Rocky Mountain region dropped a bit from $3.98 to $3.97 and have been holding pretty steady for the past few weeks ranging between $3.95 and $4.00 since late February.

West Coast
Diesel prices fell in the West Coast for the second consecutive week and are now down to $4.036.

West Coast less California
Diesel prices in the West Coast without California fell from $3.944 to $3.928 and remains one of the lowest diesel prices in the country. The second, third and fourth least expensive diesel in the United States is only separated by $0.007.

After a big jump in diesel prices in late April, May has brought some calm as diesel prices have dropped by about half a cent from $4.132 to $4.126.

After a more expensive than expected start to 2014, the EIA has revised its projection for the year and is now expecting diesel to average $3.87 over the course of the entire year. That’s still five cents less expensive than in 2013 and ten cents less expensive than 2012, though. In order to reach that projection, diesel prices would have to average $3.83 through the remainder of the year.

U.S. Diesel Prices, Week of May 5, 2014

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Posted in: Diesel, Diesel Prices, Fuel News, Trucking News

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