Diesel Fuel Price Average Holds Ground

The national average retail price of diesel fell slightly, dropping to $1.075 a gallon May 17 from $1.083 a week earlier, and maintained the stability seen in recent weeks.

The latest decline reflected lower fuel costs in every region except the Central Atlantic, where diesel stayed at $1.14 a gallon. The decreases in the other regions ranged from 0.2 cent in the Rocky Mountain region to 1.1 cents in the Midwest, according to figures from the Department of Energy.

Reflecting a similar drop in California, the West Coast’s average pump price fell by 1 cent, but it remained the highest in the country at $1.23 a gallon.

Bob Costello, director Economic and Statistical Analysis for American Trucking Associations, said the drop in prices was due to distillate inventories that are 3.2% higher than last year.

However, he said, crude oil imports dropped 1.5% last week and reflected an 8.4% decline from last year.

For the full story, see the May 24 print edition of Transport Topics. Subscribe today.