For the third week in a row, the average price of a gallon of diesel fuel decreased, according the latest numbers from the Energy Department.
The price of a gallon of on-highway diesel fuel dropped by a slight 1.3 cents, settling at $2.485 per gallon. Diesel fuel is still much cheaper than it was at this time last year and is down $1.138 per gallon year-over-year.
The largest drop in prices by region was in the Midwest, decreasing by 2.4 cents for the week. While prices were down in most regions, there was a barely register-able increase in California of 0.4 cents per gallon.
The price of a gallon of regular gasoline was essentially flat during the same period, with a national average decrease of 0.4 cents. The price is 76.9 cents cheaper than the same week a year ago. The largest decrease was in the Rocky Mountain region, dropping by 6.2 cents but it was offset by an increase of 4 cents in the Midwest.
Crude oil prices fell in stock market trading on Monday continuing the year-long narrative of increased supplies outweighing a weakened demand, according to a Wall Street Journal report.
Despite a weaker than expected Chinese economy and awareness that U.S. oil production was outstripping demand, prices slid further on word that OPEC's production output has actually increased in recent months.
Originally posted on Trucking Info