U.S. Diesel Prices Drop for Eight Consecutive Weeks

diesel fuel pump

For the eighth week in a row, the average cost of diesel fuel in the U.S. has decreased, reaching its lowest seasonal demand in 26 years.

According to the Energy Information Administration (EIA), the national average price is $3.726 per gallon, down from $3.758 on May 27 and $3.789 on May 20. The Gulf Coast boasts the lowest average price at $3.450 per gallon, followed by the Midwest at $3.592. On the other hand, California has the highest average price at $4.968 per gallon.

The EIA attributes the decline in demand for distillate fuels, used primarily in trucking and home heating, to a slowdown in manufacturing and an unexpectedly mild winter, with daily demand dropping to 3.67 million barrels.

Additionally, the supply of renewable fuels is abundant, according to the EIA.

 

Source: The Trucker