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Fuel prices keep sliding downward

Oct. 21, 2014

U.S. diesel and gasoline process continued their precipitous decline this week, according to data tracked by the Energy Information Administration (EIA).

The national average retail pump price for diesel dropped 4.2 cents to $3.656 per gallon, which is 23 cents per gallon cheaper compared to the same week in 2013, EIA noted.

Diesel declined in every region of the U.S. this week, the agency said, dipping the most in New England – down 6.4 cents to $3.751 per gallon – followed by the West Coast with a 6 cent drop to $3.742 recorded without California’s diesel prices included, changing to a 5.6 cent decline to $3.835 with the Golden State’s prices included.

California remained home to the most expensive diesel in the country despite a 5.2 cent drop this week to top out at $3.913 per gallon. The Gulf Coast grabbed the lowest-cost ranking for diesel prices at $3.589 per gallon; a 4.8 cent decline from last week, EIA reported.

The national average retail pump price for gasoline also remained on a downward slope this week, falling 8.7 cents to $3.12 per gallon; some 24 cents per gallon cheaper compared to the same week in 2013, the agency noted.

Gasoline dipped the most this week on the West Coast, dropping 11.7 cents to $3.311 per gallon without California’s prices included and 11.2 cents to $3.424 per gallon with the Golden State’s prices included. The Lower Atlantic region rounded out the “top drops” with an 11.1 cent dip to $3.044 per gallon.

The Gulf Coast not only remained home to the cheapest gasoline in the U.S. this week but registered the first price under $3 per gallon in some time, EIA noted, with the region’s average retail pump price declining 9.6 cents to $2.912 per gallon.

About the Author

Sean Kilcarr | Editor in Chief

Sean reports and comments on trends affecting the many different strata of the trucking industry -- light and medium duty fleets up through over-the-road truckload, less-than-truckload, and private fleet operations Also be sure to visit Sean's blog Trucks at Work where he offers analysis on a variety of different topics inside the trucking industry.

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