Truck diesel fuel

Diesel, gasoline prices dip this week

Fuel prices still remain higher in year-over-year comparison.

Diesel prices dropped slightly this week across the U.S., down 4 tenths of a cent to $2.922 per gallon, according to data tracked by the Energy Information Administration (EIA). Gasoline prices also fell by an average of 3.3 cents per gallon this week.

However, prices for both fuels are higher in year-over-year comparisons, according to EIA’s numbers.

Diesel prices were down in nearly every region this week, with the exception of New England, where prices rose 1.6 cents to $2.897 per gallon, and on the Gulf Coast, where prices increased one tenth of a cent to $2.713.  

Although California saw a 1.2-cent dip in diesel prices this week, the state still comes with the highest prices nationwide at $3.585 per gallon. Overall, the average price for diesel in the U.S. is 44.2 cents per gallon higher this week when compared to the same week in 2016.

Meanwhile, gasoline prices dropped across board in the country this week, falling by an average of 3.3 cents to $2.500 per gallon. Similar to last week, the Midwest recorded the largest price drop of 6.5 cents to $2.357 per gallon.

Compared to the same week in 2016, similar to diesel, gasoline prices are higher by an average of 29.2 cents per gallon.

During last month’s North American Energy Ministerial, United States Secretary of Energy Rick Perry, Canada’s Minister of Natural Resources James Gordon Carr, and Mexico’s Secretary of Energy Pedro Joaquin Coldwell launched the North American Cooperation on Energy Information (NACEI) website, which consolidates energy-related data, maps, analyses, and references from the three countries.

According to EIA, the NACEI site’s overview page shows energy flows among the countries for crude oil, natural gas, and electricity.

“In 2016, Canada was the largest source of U.S. crude oil imports, supplying more crude oil to the United States than all members of the Organization of the Petroleum Exporting Countries (OPEC) combined,” EIA said. “Mexico was the fourth-largest source of U.S. crude oil imports in 2016, behind Canada, Saudi Arabia, and Venezuela. Canada was also the top destination for U.S. crude oil exports in 2016, receiving 61% of all U.S. crude oil exports.”

In addition, natural gas trade flows among the three countries are also significant. According to the site, Canada is the largest source of U.S. natural gas imports—mostly through pipelines that cross the border into states such as Idaho and Montana. Mexico is the largest destination of U.S. natural gas exports—mostly through pipeline border crossings in Texas, EIA reports.

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