Diesel Prices Down

The national average diesel fuel price declined one cent to $3.85 per gallon according to the EIA’s analysis released May 8, 2013, 21 cents lower than last year at this time.  Prices were down in all regions of the nation except the Midwest, which had a price increase of three cent making the average price per gallon $3.87.  The West Coast had the largest decrease where prices dropped three cents from last week to $3.92 per gallon.  Both the East Coast and Gulf Coast had a two cent decreased to $3.86 per gallon on the East Coast and $3.74 per gallon on the Gulf Coast.  The Rocky Mountain price declined a penny to $3.80 per gallon.

The Short-Term Energy Outlook released by the EIA May 7, 2013 reported that diesel fuel prices, which averaged $3.95 per gallon last summer, are projected to fall to an average of $3.88 per gallon this summer.  The annual average diesel fuel price per gallon is expected to drop from $3.97 in 2012 to $3.92 in 2013 then $3.79 in 2014.