After a summer-long decline diesel prices crept up 1.6 cents this week, according to the most recent data from the Energy Information Administration (EIA). This week marks the second time since Labor Day that diesel prices have increased.
This week, diesel is up to $2.492 from last week’s $2.476. This week’s price is $1.241 cheaper than the same week last year, EIA said.
Diesel is up in four regions this week: Midwest, up 5.5 cents to $2.489 from last week’s $2.434; Rocky Mountains, up 1.5 cents to $2.501 from $2.486; West Coast, up 2 tenths of a cent to $2.694 from $2.692; and the West Coast without California, up 1.9 cents to $2.560 from $2.541.
The Gulf Coast remained the same as last week at $2.323 per gallon. All regions remain under the $3-per-gallon mark.
Average U.S. retail pump prices for gasoline were down slightly, slipping by only 4 tenths of a cent to $2.318 from last week’s $2.322, according to EIA. That is 98-cents-per-gallon less than the same week last year.
Gas prices are down in all but three regions this week – the Lower Atlantic, up 5 tenths of a cent to $2.118 from $2.113; Midwest, up 2.7 cents to $2.352 from $2.325; and the Gulf Coast, up 2 cents to $2.035 from $2.015. All regions remain under the $3-per-gallon mark.
EIA reports that household heating costs are expected to be lower this winter compared to the past two years. The decline is attributed to the combination of warmer weather and lower fuel prices, EIA said.
According to EIA’s Winter Fuels Outlook, average household expenditures for homes heating primarily with natural gas will total $578 this winter, a $64 decline from last winter’s average. Homes using propane are expected to spend $1,437 this winter, or $322 less than last year; homes using heating oil are projected to spend $1,392, or $459 less; and those heating primarily with electric are expected to spend $930, or $30 less, according to EIA.
EIA also noted that most regions of the country are expected to have warmer weather this winter. “The Northeast, Midwest and South are expected to be about 13%, 11% and 8% warmer, respectively, based on forecasts from the National Oceanic and Atmospheric Administration.”