The average national price for a gallon of diesel fell 4.7 cents to $2.069 per gallon. The recent reductions in diesel prices appear to reflect crude prices dipping down to the mid-$40 level from October’s consistent mid-$50 price coupled with large stocks banked in the U.S. Strategic Petroleum Reserve.
The biggest drop was posted in the region that needed it the most—California. The Golden State saw a 6.2-cent decrease to $2.225, but remains the most expensive region in which to fill up. The smallest drop was seen in New England, which posted a 2.4-cent drop to $2.234. Bargain hunters may want to go to the Gulf Coast, where average pump prices were $1.995. This marks the first time any region saw average diesel prices fall below the $2 mark in nine weeks.