Diesel prices have fallen for the 14th week across the U.S. This week, prices are down 4.7 cents to $2.514, according to the most recent data from the Energy Information Administration (EIA).
This week diesel is $1.300 per gallon cheaper compared to the same week last year. Diesel prices decreased in every region, with all regions under the $3-per-gallon mark. New England experienced the most significant drop in diesel this week – down 6.6 cents to $2.673.
This week, average U.S. retail pump prices for gasoline dropped 12.7 cents, according to EIA. Gas prices are down to $2.510 per gallon from last week’s $2. 637. According to EIA, that is nearly 95 cents less than the same week last year.
Overall, gas prices are down across the board, and the only region to see prices above the $3-per-gallon mark is the West Coast at $3.162. Going into Labor Day weekend, gasoline prices are forecast to be the lowest since 2004, according to AAA.
According to EIA, offshore production in the Gulf of Mexico has experienced “relatively minor disruptions because of tropical storms and hurricanes in recent years.” It goes on to say that the National Oceanic and Atmospheric Administration has predicted a below-normal 2015 hurricane season in its updated Atlantic Hurricane Season Outlook.