The Number 1 Resource for Vocational Truck Fleets

Fuel Management

Diesel Prices Fall by Nearly 3 Cents

November 14, 2016

Source: EIA
Source: EIA

The price of diesel fuel in the U.S. fell by nearly 3 cents last week after staying essentially flat for over a month, according to the latest numbers from the Energy Department.

The average price of on-highway diesel fuel fell by 2.7 cents last week, bringing the price down to $2.443 per gallon. Compared to the same week in 2015, the price is 3.9 cents cheaper.

Unlike previous weeks, which saw a mix of trends increasing or decreasing in different parts of the country, all major regions saw a decrease in prices. The largest decrease was in the Rocky Mountain region where prices fell by 4 cents while the region with the least change was the West Coast at 0.9 cents.

Gas prices were down by an even larger margin last week with the average price of regular gasoline falling 4.9 cents from the previous week and settling at $2.184. Despite the decrease, the price of gasoline is 0.6 cents more expensive than it was in the same week a year ago.

The largest decrease in prices by region was in the Midwest, where prices fell by 8.8 cents for the week. The smallest decrease was in the Central Atlantic region where prices only fell by 1.4 cents over the same period.

Crude oil prices were down to near quarterly lows on Nov. 14, as the market weighs the likelihood that oil supply will remain higher than demand into 2017, according to the Wall Street Journal.

Once again, the rumored deal between oil producing countries to freeze or even reduce oil production seems unlikely to happen. A global supply glut has driven prices down in the past year as demand in places like China wanes under a weaker economy.

Comment On This Story

Name:  
Email:  
Comment: (Maximum 10000 characters)  
Leave this field empty:
* Please note that every comment is moderated.

FleetFAQ

Fleet Tracking And Telematics

Todd Ewing from Fleetmatics will answer your questions and challenges

View All

 

Fleet Management And Leasing

Merchants Experts will answer your questions and challenges

View All

 

Fuel Saving Strategies Survey

View our 2008 survey to benchmark your fleet's fuel and green strategies with other fleets.
 

Fuel Calculator

A managed fuel program can help you save time and money and gain control over the way you fuel your vehicles. Determine your potential savings by using our fuel calculator.
Launch Fuel Calculator 

Fuel Prices

U.S. Gasoline and Diesel Fuel Prices.

Launch Fuel Prices 
Sponsored by

A commercial fleet belongs to a private sector entity as opposed to a public or government sector entity.

Read more