U.S. diesel prices declined for the eighth consecutive week in the week ending April 22, falling to an average price of $3.887 per gallon, according to the U.S. Energy Information Administration. This is the lowest diesel price in the U.S. since the week of Aug. 6, 2012.
The current price is down 1.4 percent or 6 cents from the previous week and down 4.8 percent from the price of $4.085 at the same time last year. This week’s price continues to accelerate at a steeper rate week-after-week, which has been the trend for the past three weeks. During the past eight weeks, prices have dropped 6.5 percent or 27 cents. The price fell below those at the beginning of 2013 by 0.8 percent or 3 cents.
All U.S. regions showed diesel price drops for a second straight week. The highest week-to-week drop was in the West Coast less California region, which fell 8.5 cents from the week before. New England and California are the only regions this week to hold on to prices above the $4-per-gallon rate. All other regions sit below $4, with the lowest rate in the Gulf Coast region at $3.802.