Diesel Price Plummets 21.6 Cents in One Week

WASHINGTON, D.C. --- Plunging 21.6 cents, the U.S. average diesel price hit $3.659 cents per gallon, according to an Oct. 16 report released by the Energy Information Administration (EIA). This was the lowest retail diesel price since March 3 of this year.

The drop was the largest weekly decline since Oct. 31, 2005, when prices fell just over 28 cents. Prices fell precipitously in all regions of the U.S. The diesel price on the East Coast slid 21.9 cents to hit $3.709 per gallon. Dropping 21.7 cents, the price in the Midwest was $3.641 per gallon. The average price in the Gulf Coast hit $3.631 per gallon, a fall of 21.2 cents.

The price for diesel in the Rocky Mountains decreased 18.9 cents to $3.697 per gallon. For the first time since EIA began collecting retail diesel prices, the West Coast had the lowest average price of any region, tumbling 22.5 cents, to $3.622 per gallon. In California, the average also dropped by more than 20 cents, falling 21.3 cents to $3.656 per gallon.