Price of diesel falls 1.2 cents to $2.402 average Thinkstock

Price of diesel falls 1.2 cents to $2.402 average

Diesel prices have continued their slow retreat from this year’s highest level in mid-June, posting the fourth modest decline in the past five weeks.

The average U.S. retail pump price for diesel slipped 1.2 cents in the July 18 report by the Energy Information Administration (EIA), to $2.402 per gallon. That’s 38 cents cheaper than the price for a gallon of fuel  this time last year.

Regionally, only the Gulf Coast posted an increase, up a tenth of a penny to $2.262, still the lowest in the country.

The West Coast (not including California)posted the largest decline, down 2.7 cents to $2.569. In California the price fell 1.8 cents to $2.78 per gallon, the highest price in the contiguous 48 states.

Around the East Coast, the price was down 2.3 cents in New England ($2.446), down 1.8 cents in the Central Atlantic region ($2.503), and down 0.9 cents in the Lower Atlantic ($2.332).

The Rocky Mountain area posted a 1 penny decline to $2.435, while the price for diesel fell 1.6 cents in the Midwest, coming in at $2.369.

The national average price for gasoline fell 2.3 cents for the week to $2.23.

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