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Stronger global demand is keeping diesel from falling as precipitously as gasoline, which has experienced a 7.1-cent decline.
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The national average price for gasoline continued its decline, falling 7.1 cents to $3.194 for the week ending Nov. 11, reaching its lowest level in almost three years.
Read More →The national average price for diesel fell 1.6 cents to $3.87 per gallon, according to the U.S. Department of Energy.
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According to WEX’s September fuel prices report, the national average dropped more than 20 cents per gallon to $3.37 — 40 cents per gallon lower than a year ago.
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WEX’s August fuel prices report found that demand was up in July and August and that the crisis in Syria is pushing the price of crude oil higher.
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Gas prices are falling across the U.S., with the national average price for a gallon of regular unleaded gasoline at $3.57 per gallon on June 24, according to AAA’s latest Fuel Gauge Report.
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WEX stated the national retail price for a gallon of gasoline started the month at $3.55 per gallon, which is down close to 10 cents per gallon from where the price started in April.
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Both retail and wholesale gasoline prices are dropping, according the monthly WEX Index. Diesel is also expected to decline due to weakening demand and the spring thaw.
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A new report from WEX says fears about summer gasoline supply caused the recent price increases and that gas prices should slowly fall throughout March. WEX also expects a drop in diesel prices, but not as much as for gasoline.
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According to WEX Inc., while gas hit its lowest price per gallon for 2012 on Dec. 20, a slight jump closed the year at the highest national average ever.
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