Diesel Fuel Prices Continue to Trend Downward

By Paul Riegler on 28 October 2014
  • Share

DSC_0931Across the nation, the average price of diesel fuel has plummeted, down $0.19 to $3.63 since Labor Day eight weeks ago according to the U.S. Energy Information Administration. Meanwhile, the price of gasoline is down $0.18 in the past week to $3.05, 40 cents less than it was over Labor Day.

The lowest average price for a gallon of diesel fuel was on the Gulf Coast, at $3.56 per gallon, followed by $3.55 in the Lower Atlantic states and $3.63 along the East Coast.  Diesel fuel was highest in California, where a gallon cost $3.88.  With the exception of the Midwest, diesel fuel prices fell throughout the United States over the past week and were by an average of $0.25 over the past year.

Regular-grade gasoline prices have also fallen significantly.  In many parts of the country, the cost of a gallon is under $3.00.  The lowest average price is $2.83 in the Gulf Coast, followed by $2.95 in the Lower Atlantic states and $3.05 along the entire East Coast.  The West Coast had the highest price for gas, with an average of $3.32.  Gasoline prices were down throughout the United States without exception over the past week.

The recent drop in fuel prices mirrors a similar drop in crude oil prices over the past four months due to ample global supplies and weak demand.

(Photo: Accura Media Group)