Diesel Prices Continue to Decline

Average U.S. diesel prices stable compared to the same time last year, averaging $2.96 per gallon as of Feb. 3, 2020, according to the Energy Information Administration (EIA).

The Rocky Mountain and West Coast regions experienced a slight increase compared to one year ago, but all regions saw a decrease from the week prior. 

According to the EIA's monthly petroleum market report, prices for refiner No. 2 distillates sales show decreases for the most part in November. The average price for No. 2 diesel fuel sold to end users decreased 0.8 cents to $2.13 per gallon, while the average wholesale price fell 1 cent to $1.97 per gallon.

The EIA noted that the average retail price for No. 2 fuel oil sales increased 14.7 cents to $2.32 per gallon, while the average wholesale price declined 4.2 cents to $1.88 per gallon.

Refiner sales of No. 2 ultra-low sulfur diesel fuel decreased 2.4 million gallons per day (1.3%) to 175.6 million gallons per day in November. Retail sales fell 400,000 gallons per day (3.7%), while wholesales dropped 2.0 million gallons per day (1.2%).