U.S. diesel prices fell slightly in the week ending May 6, extending their decline for the tenth consecutive week, according to the U.S. Energy Information Administration. During the past ten weeks, prices have dropped by 7.5 percent or 31 cents.
The average price is currently at $3.845 per gallon, inching down 0.2 percent or 1 cent from the previous week. The rate of decline has decelerated over the past two weeks. This week’s price is 5.2 percent below the same week in 2012, when the price stood at $4.06, and is 1.9 percent or 7 cents below where it stood at the beginning of 2013.
The Midwest region was the only U.S. region to show an increase in diesel prices this week, following three straight weeks of declines across the board. Diesel prices in the Midwest rose 2.9 cents to $3.868 per gallon. All other regions continued to see declines this week, the highest drop being in the California region. Prices there fell 4.6 cents week-to-week, putting the average price at $4.001. The California region is the only of the U.S. regions to remain above the $4 mark.