Diesel Prices Drop By Nearly Two Cents
Fuel is a cost that the trucking industry has always had to contend with. Many drivers and administrators predicted that fuel prices would continue to drop, and were excited when this prediction was proven accurate.
On-road diesel prices continued to fall from the end of last month, with the most recent 1.8 cent drop leaving the average cost of fuel at $2.565 per gallon. This is down from $2.583 per gallon just last week as reported by the Energy Information Administration.
All of the administration’s reports show diesel prices sliding, with the West Coast region (except for California) reporting a larger drop than average. The West Coast region’s 2.8 cent drop to $2.747 is one of the most noteworthy as of late, followed by the Gulf Coast Sector which showed a 2.5 decent drop to $2.410 a gallon. The Central Atlantic region was not far behind, falling 2 cents to a total of $2.753 per gallon.
Diesel prices were climbing toward $3 per gallon at one point. While prices have dropped, California is still barely below this with prices sitting at $2.927 per gallon.
Oil prices have also been sinking despite some market factors suggesting otherwise.