Diesel declines for 12th consecutive week

Diesel declines for 12th consecutive week

Average retail pump prices in the U.S. for both diesel and gasoline continue to decline, according to data tracked by the Energy Information Administration (EIA), largely because global oil prices remain stuck in a slump.

Diesel dropped for the 12th consecutive week, down 4 cents to a U.S. retail average of $2.031 per gallon, which is 80 cents cheaper per gallon compared to the same week in 2015, the agency said.

Diesel prices decreased in every region of the U.S. in the Feb. 1 report, with average retail diesel prices in four of them coming in below the $2 per gallon mark:

  • The Lower Atlantic: $1.992 (down 3.3 cents this week)
  • The Midwest: $1.991 (down 4.6 cents)
  • The Gulf Coast: $1.917 (down 4 cents)
  • The Rocky Mountains: $1.969 (down 4.6 cents)

California is again home this week to the highest average retail price for diesel, EIA’s numbers show, at $2.399 per gallon, though that represents a 6 cent decline per gallon from last week.

The U.S. average retail pump price for gasoline also declined this week by 3.4 cents to $1.822 per gallon, which is 24.6 cents cheaper compared to the same week in 2015.

The highest average retail prices for gasoline are again found on the West Coast at $2.375 per gallon, down 8.4 cents from last week but 4.7 cents per gallon higher when compared to the same week in 2015.

TAGS: News Business
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