On-highway diesel prices continued their downward trek started last week, ringing in at $2.539 a gallon for the national average, 2.5 cents lower than the March 13 price of $2.564.
After increasing for four weeks, diesel decreased in price last week and since has been following oil’s downward spiral.
The Gulf Coast reporting region of the Energy Information Administration (EIA) showed the largest decline from last week, down 3.9 cents to $2.380 from $2.419 the week prior followed by the West Coast Less California, down 3.4 cents a gallon to $2.702, and the Midwest and Rocky Mountain regions, both down 2.7 cents a gallon to $2.464 in the Midwest and $2.590 in the Rocky Mountain sector.
The Gulf Coast still has the cheapest diesel at $2.380 and California still has the most expensive at $2.928.
Overall, diesel is 42 cents a gallon more than it was at this same time last year, when it was scraping the bottom of the barrel.
News of U.S. oil supplies has tipped oil prices downward despite the fact that OPEC is considering extending its six-month deal to cut production, Reuters reported.
For details of diesel prices by region click here.