Following a week in which the average price per gallon was flat, diesel prices resumed their decline, falling 1.3 cents to $3.801 per gallon, according to the Department of Energy’s Energy Information Administration (EIA).
During this ten-week stretch of flat or declining prices, diesel prices have fallen a cumulative 11.9 cents and are down 22 cents since the week of March 10, when the average price per gallon was at $4.021. What’s more, according to EIA data, diesel prices have not increased since the week of June 30 and the average price per gallon is down 17.3 cents year-over-year.
Diesel prices have been down in 23 of the last 26 weeks.
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.
To read more about diesel prices, please read yesterday’s LM news story, which looks at how shippers are approaching the current diesel situation.