U.S. diesel price dips slightly, $2.221

user-gravatar Headshot

After a whopping 13.1-cent increase three weeks ago, the national average retail price of a gallon of diesel has stayed basically the same since, this week seeing a modest 0.8-cent dip to $2.221.

The price saw a modest climb two weeks ago, 0.7 cent, and last week saw an even smaller 0.1-cent hike. This week’s price is $1.922 less than the same week last year, according to the U.S. Department of Energy.

All regions tracked by DOE saw price decreases except for the Rocky Mountain region, where prices climbed 2.4 cents to $2.274.

The largest decrease by region, 1.7 cents, was found in New England, where week-over-week prices fell to $2.403, still the nation’s most expensive diesel by region. The smallest decrease by region, 0.7 cents, was found in the Lower Atlantic, where week-over-week prices fell to $2.197. The nation’s least expensive diesel by region, $2.166, was found in the Midwest, where week-over-week prices fell 0.9 cents.

California, which DOE tracks separately for its weekly update, saw a price decrease of 1.0 cent to $2.340; that price is $1.977 cheaper than last year. For state-by-state diesel prices, updated daily, click here.

DOE says in its monthly short-term energy outlook that diesel fuel will average $2.23 a gallon nationally this quarter and rise to $2.31 in the third quarter. DOE projects that diesel will average $2.30 this year, up from the March forecast of $2.19. Next year, the price is projected to rise to an average $2.69, a sharp increase from the $2.51 projected last month. Diesel averaged $3.79 last year, when the record of $4.764 was set last July.