Diesel prices are down for the third straight week, according to the U.S. Energy Information Administration (EIA). U.S. prices fell by nearly 1.5 cents this week from $3.948 to $3.934 and are beginning to close the gap between the prices at this time last year ($3.89) and the prices at this time year. For the second consecutive week, every single region saw a decrease in prices.
Diesel prices on the East Coast are almost down to the $4 mark, dropping by more than a cent to $4.03. Diesel prices on the East Coast reached as high as $4.16 during March, and have not been below $4 per gallon since late January.
The $4.16 reached on the East Coast seems like nothing compared to New England where prices rose to as high as $4.39 per gallon. Prices in New England have dropped for the 11th straight week and are down to $4.14 from $4.16 last week. New England still has the highest diesel prices in the country, but the margin isn’t nearly as wide as it was a few weeks ago.
The second highest diesel prices in the United States are again in the Central Atlantic region, which was hit hard by cold temperatures this winter. The largest decrease (tied with another region) was in the Central Atlantic as prices fell to $4.14.
Diesel prices fell slightly in the Lower Atlantic, by less than a cent, to $3.92 from $3.93.
The other region with a full two cent decrease in diesel prices was the Midwest, which now features the second lowest diesel prices in the country. Prices dropped from $3.92 to $3.90 this week, which is the lowest that region has seen in 16 weeks.
This is the 60th consecutive week that diesel prices have been lower on the Gulf Coast than anywhere else. This week, prices dropped by about half a cent to $3.79.
Diesel prices in the Rocky Mountain region dropped a fair amount and are now $3.95 after reaching as high as $4 per gallon in mid-March.
For the third straight week, the West Coast saw a drop in diesel prices. This week, prices fell from $4.04 to $4.03 and are slowly creeping down to that $4 threshold.
West Coast less California
Only three regions have lower diesel prices than the West Coast without California factored in. Prices only dropped half a cent (from $3.928 to $3.923), but it is the third straight week of declines in this region.
California saw a big drop in diesel prices this week, with prices falling from $4.13 to $4.11.
In order for diesel prices to reach the projected average of $3.87 per gallon, prices in the United States as a whole would need to average $3.81 the remainder of the year.
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