The U.S. average retail diesel price fell 3.7 cents a gallon to $2.445, its lowest point in nearly 6 1/2 years, the Department of Energy reported Nov. 23.
The last time the national average for trucking’s main fuel was this low was June 1, 2009, when diesel was $2.352 a gallon. It's now $1.183 a gallon cheaper than a year ago, when the price was $3.628.
Retail prices dropped in all areas of the nation, with the Midwest showing the greatest decrease, 5.3 cents, to put prices there at $2.441.
Diesel fuel fell the least in Rocky Mountain region, 1.4 cents, where it stood at $2.474.
The national average price of gasoline also took a big drop, falling 8.4 cents to $2.094 a gallon, which is 72.7 cents cheaper than a year ago. It was driven by a 15-cent drop in the Midwest region, where prices were $1.935.
Analysts said oil and fuel reserves remain high and a winter of unseasonably warmer weather throughout much of the country could send oil and fuel prices even lower.
Also, one less-than-truckload carrier, Old Dominion Freight Line Inc., announced it would eliminate its fuel surcharge from its base tariff, used by smaller shippers, for as long as diesel remains below $3 per gallon.
Old Dominion ranks No. 11 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.
