Fuel prices dip downward

Average retail pump prices for both diesel and gasoline decreased slightly this week, according to data tracked by the Energy Information Administration (EIA).

The agency said diesel dropped 1.4 cents to $3.934 per gallon this week, which is 4.4 cents higher per gallon compared to the same week in 2013.

EIA noted that average retail pump prices declined in every region of the country this week – falling the most in the Central Atlantic (two cents to $4.136 per gallon), the Midwest (two cents to $3.901), California (1.6 cents to $4.110) and the Rocky Mountains (1.6 cents to $3.954).

Along with the Central Atlantic and California, diesel prices in three other regions remained over the $4 per gallon mark this week: New England ($4.139 per gallon), the East Coast ($4.027), and West Coast ($4.025) when California’s prices are included.

The EIA added that gasoline prices declined this week as well, though not by much. Average retail pump prices for gasoline dropped just 3/10ths of a penny to $3.665 per gallon this week, which is 8/10ths of a penny below the same week in 2013.

Gasoline prices dropped in all regions of the country except for two: the Midwest (a 1.5 cent increase to $3.611 per gallon) and the Gulf Coast (2/10ths of a penny to $3.439). Despite a 7/10ths of a penny decline, gasoline prices on the West Coast remained over the $4 per gallon mark at $4.015 when California’s prices are included, EIA noted.