Diesel Fuel Down 4% From Labor Day 2012

By Paul Riegler on 31 August 2013
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DSC_0290Americans will pay considerably less for fuel this weekend than they did last Labor Day.  The national average price of diesel fuel is down 4.3% or 18 cents since then, a period where hurricanes and refinery shutdowns resulted in higher prices, and gasoline costs 6% or 22 cents less, according to the U.S. Energy Information Administration.

In California, the region with the greatest decline in prices, drivers are spending 32 cents less on diesel and 30 cents less on gasoline per gallon and the rest of the country is seeing diesel prices that are eight to 25 cents lower and gasoline prices that are nine to 25 cents lower.

In recent weeks, prices have started to creep up by several cents as the United States and its allies announced plans to attack Syria in retaliation for a government-sponsored chemical weapons attack on civilians.

Looking ahead, the Energy Information Administration projects that the national average price for a gallon of diesel fuel in the period August through December 2013 will be $3.89, and that prices will continue to drop, with an expected average of  $3.76 for calendar year 2014.

A regular gallon of gasoline will be $3.59 in the quarter that starts tomorrow and $3.52 for 2013, a figure that is 11 cents lower than the average price in 2012.  The EIA expects prices to decline further and is projecting an average price of $3.37 per gallon in 2014.

(Photo: Accura Media Group)