Diesel prices drop again after spike

By Staff -- Logistics Management, 6/1/1998

Diesel-fuel prices began to drop at the end of May after turning up slightly in April. The national average price per gallon, tracked by the Energy Information Agency (EIA) of the federal Department of Energy, crept up from a low of 104.9 cents per gallon on March 23 to 107.5 cents per gallon on May 11. The average fell to 106.9 cents on May 18 and 106.0 cents on May 25. That last price is 13.6 cents per gallon below the average price recorded a year earlier.

The EIA says that the drop in prices reflects declines in distillate spot prices. Plentiful stocks and distillate production should mean relatively stable prices throughout the summer.

The EIA prices are based on reports gathered by the DOE from 350 diesel service centers from throughout the country.

National and Regional Average Diesel Prices (cents)

May 4 May 11 May 18 May 25

U.S. Average 107.2 107.5 106.9 106.0

East Coast 107.3 107.8 107.4 106.7

Midwest 105.2 105.4 104.8 103.8

Gulf Coast 104.3 105.3 104.3 103.7

Rocky Mountain 111.9 113.0 112.9 112.8

West Coast 115.9 115.2 114.0 112.1

California 124.4 123.1 121.9 119.3

Source: United States Department of Energy