Diesel prices headed down again, according to data issued by the Department of Energy’s Energy Information Administration (EIA).
The average price per gallon of diesel fuel dropped 2.2 cents to $3.733 per gallon, which marks the 14th consecutive week without an increase in price, during which time it has fell a cumulative 18 cents. Prices are down 28.8 cents since the week of March 10, when the average price per gallon was at $4.021. And the average price per gallon is down 16.4 cents year-over-year.
Diesel prices have been down in 25 of the last 30 weeks and are at its lowest level since the week of July 16, 2012, when it hit $3.695.
In its recently-issued Short Term Energy Outlook, the EIA pegged the average price for diesel prices in 2014 at $3.89 and $3.87 in 2015, with crude oil at $100.45 per barrel in 2014 and $96.08 in 2015.
Oil barrel prices on the New York Mercantile Exchange were at $90.27 earlier today, according to a MarketWatch report. The report said that crude oil is down 8.2 percent year-to-date.
To read more about diesel prices, please read yesterday’s LM news story, which looks at how shippers are approaching the current diesel situation.