National Diesel Average Declines 2.5¢ to $2.531 a Gallon
The average price of diesel fuel in the United States declined 2.5 cents a gallon to $2.531, the Department of Energy reported Oct. 19.
The national average for trucking’s main fuel was cheaper by $1.125 a gallon from a year ago, DOE’s Energy Information Administration said after its weekly survey of fueling stations.
Retail prices for the fuel declined in every region of the country except the Rocky Mountains, where it rose 0.7 cent.
The decline follows a 6.4-cent increase last week that was the largest increase in more than two years.
Gasoline dropped 6 cents to $2.277 a gallon. That follows a 1.9-cent rise the prior week. The price of gas fell by 10.5 cents in Midwest and only 1.1 cent in the Central Atlantic region.
Each week, DOE surveys about 400 diesel filling stations and 800 gasoline stations to compile national average prices.
West Texas Intermediate for November delivery, which expires Oct. 20, fell $1.37 to $45.89 a barrel on the New York Mercantile Exchange, Bloomberg News reported.
It’s the lowest close since Oct. 2. The volume of all futures traded was near the 100-day average. The more-active December future decreased $1.44 to $46.28.
“The one-two punch of oversupply and shaky Asian demand is putting downward pressure on the market,” John Kilduff, a partner at Again Capital, a New York-based hedge fund, told Bloomberg News. “The Chinese data could have been worse but was bad enough to raise demand concerns.”
U.S. average #Diesel fuel price on 10/19/15= $2.531/gal, DOWN $0.025 from week ago https://t.co/MsaRItZZEC #truckers pic.twitter.com/jCYaTskD1h — EIA (@EIAgov) October 19, 2015
