Diesel price posts largest drop in a year Thinkstock

Diesel price posts largest drop in a year

The cost of fuel continues to fall with the price of oil, and diesel has posted a 10th consecutive weekly decline.

The average U.S. retail pump price for diesel was $2.177 per gallon, down 6.5 cents, in the Jan. 11 report by the Energy Information Administration (EIA). That’s the largest drop since the price fell 6.8 cents on Dec. 29, 2014. The price is about 82 cents per gallon cheaper than this time last year, the lowest since March 2009.

Prices were down in every region of the country, paced by the Midwest region ($2.023) and California ($2.489), where a gallon of diesel was down 7.3 cents. California still has the highest price in the contiguous 48 states. Otherwise, the West Coast less California saw a 6 cent decline to $2.198.

In other regions, New England reported a 5.8 cent drop to $2.277, while the diesel price fell 4.5 cents in the Central Atlantic to $2.305, and 6.2 cents in Lower Atlantic region to $2.054.

In the Rocky Mountains the price was down 5.6 cents to $2.078 and the Gulf Coast reported a 6.6 cent drop to $2.014, the lowest price for a gallon of diesel in the nation. 

The national average price for gasoline fell 8.2 cents to $1.914, and the average is below two bucks in every region except the West Coast ($2.523).

 

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