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Diesel dips another 1.8 cents

Diesel dips another 1.8 cents

A third consecutive weekly decrease has left the price of diesel right the middle the nickel or so range it’s maintained since the first of the year.

The average U.S. retail pump price for diesel fell 1.8 cents to $2.565 in the May 8 update by the Energy Information Administration (EIA). That’s 2.1 cents cheaper than the Jan. 2 report, but 29.4 cents higher than this time last year.

Prices fell in every region.

On the East Coast, prices were down 1.2 cents on average, coming in at $2.642 in New England, $2.753 in the Central Atlantic region, and $2.507 in the Lower Atlantic.

On the West Coast, less California, diesel registered a 2.8-cent decrease to $2.747, while California posted a 1-cent dip, to $2.927, the highest price in the lower 48 states.

Diesel was up 1.5 cents in the Rocky Mountains ($2.651), while the price for a gallon in the Midwest fell 1.9 cents ($2.497).

The Gulf Coast saw an decline of a 2.5 cents, to $2.41—the lowest price for a gallon in the country.

The national average price for gasoline was down 3.9 cents to $2.372, 15.2 cents higher than a year ago.

TAGS: News Business
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