U.S. diesel price falls 5.6 cents to $2.130, cheapest in 4 years

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The national average retail price fell 5.6 cents to $2.130 for the week ending Monday, Feb. 23. This week’s price is $1.422 less than the same week last year, and is the lowest price since Feb. 28, 2005, when it was $2.118, according to the U.S. Department of Energy.

The U.S. average price has fallen $2.634 after hitting a record high of $4.764 on July 14. Since then, the price has fallen 30 of the last 32 weeks, with the only increases happening Sept. 29 when the price climbed one-tenth of a cent; and Jan. 12, when the price climbed 2.3 cents.

All regions tracked by DOE saw price declines. The largest decrease by region, 6.6 cents, was found in the Midwest, where week-over-week prices fell to $2.071, the nation’s least expensive diesel by region. The smallest decrease by region, 2.5 cents, was found in the Rocky Mountains, where week-over-week prices fell to $2.158. The nation’s most expensive diesel by region, $2.514, was found in New England, where week-over-week prices fell 4.5 cents.

California, which DOE tracks separately for its weekly update, saw a price decline of 4.3 cents to $2.219; that price is $1.453 cheaper than last year. For state-by-state diesel prices, updated daily, click here.