The average price for a gallon of diesel fuel at the retail pump this week was $2.681, down just four-tenths of a cent from a week ago, according to a report from the U.S. Energy Information Administration.
By Friday of last week, the price of crude oil had dropped to $57.11 per barrel on the New York Mercantile Exchange as demand for heating oil decreases with warmer weather. Benefiting from the decline of crude oil prices, diesel production kept inventories up.
While prices fell almost everywhere, including a 2.4 cent drop in California, the West Coast and the Rocky Mountain regions saw small increases. Diesel on the West Coast was up two-tenths of a cent to $2.813, just 9.7 cents higher than a year ago. In the Rockies, diesel sold for $2.765, up 2.9 cents from last week and up 15.7 cents from a year ago.
The lowest prices were on the Gulf Coast, where an average gallon of diesel sold for $2.64, down four-tenths of a cent from a week ago and 8.8 cents higher than a year earlier. The biggest decline in the country was a drop on just eight-tenths of a cent on the East Coast, where diesel was selling for $2.661, up 5.5 cents from a year ago.