National Diesel Average Falls 1.6¢ to $2.569
The U.S. average retail price of diesel dropped 1.6 cents to $2.569 a gallon, while crude oil prices showed little change from the previous week.
It was diesel’s second decline after six consecutive weekly increases, the Department of Energy reported Jan. 23.
Diesel costs 49.8 cents more than it was a year ago, when the price was $2.071, according to DOE.
Prices fell in all regions except in New England, where the average price rose 0.2 cent to $2.676.
The U.S. average price for regular gasoline fell 3.2 cents to $2.326 a gallon, 47 cents higher than a year ago, DOE’s Energy Information Administration reported.
The average weekly gasoline price dropped in all regions except the West Coast less California, where it rose 0.2 cent to $2.492.
All regions posted higher year-over-year prices.
West Texas Intermediate crude futures on the New York Mercantile Exchange closed at $52.77 per barrel Jan. 23, compared with $52.48 on Jan. 17.
Meanwhile, the Trump administration intends to boost domestic energy production.
“We must take advantage of the estimated $50 trillion in untapped shale, oil, and natural gas reserves, especially those on federal lands that the American people own,” the White House website announced on its page outlining the administration’s energy plan.
“We will use the revenues from energy production to rebuild our roads, schools, bridges and public infrastructure. Less expensive energy will be a big boost to American agriculture, as well,” the website explained.
U.S. average #Diesel fuel price on 1/23/17 = $2.569 gallon, DOWN $0.016/gallon from week ago https://t.co/Jn5TOAS8dB #truckers — EIA (@EIAgov) January 23, 2017
