Diesel Falls 0.5¢ to $2.426
The U.S. retail diesel average fell 0.5 cent to $2.426, the Department of Energy reported.
It marked diesel’s first decline after 16 increases in the past 17 weeks, DOE reported after its June 20 survey of fueling stations. Trucking’s main fuel is 43.3 cents cheaper than a year ago.
The average diesel price fell in all regions except the Central Atlantic and New England. It was unchanged in the Rocky Mountain region.
Also last week, the national average price for regular gasoline dropped 4.6 cents to $2.353 a gallon, DOE said. The average is 45.9 cents cheaper than a year ago.
It fell in all regions except the Rocky Mountain area.
Meanwhile, crude oil futures on the New York Mercantile Exchange closed June 20 at $49.19, after closing at $47.98 on June 17.
Where oil heads next is uncertain.
DOE’s Energy Information Administration said in its latest Short-Term Energy Outlook its forecast for the average West Texas Intermediate price in September of $46 a barrel should be considered in the context of Nymex contract values for September delivery.
“These contracts traded during the five-day period ending June 2 suggest the market expects WTI prices could range from $36 a barrel to $69 a barrel — at the 95% confidence interval — in September 2016,” according to the report.
