Diesel Prices Fall 6.5¢ to $2.112
John Sommers II for TT
The U.S. average retail diesel price fell for the 10th consecutive week, down 6.5 cents a gallon to $2.112, leaving it at the lowest price since March 23, 2009, the Department of Energy reported Jan. 19.
Trucking’s main fuel was 82.1 cents a gallon cheaper than a year ago, when it was $2.933, DOE’s Energy Information Administration said.
Diesel fell in all regions, and its lowest price was in the Gulf Coast, where it dropped 6.6 cents to $2.014.
The average retail price of gasoline fell to $1.914, down 8.2 cents from Jan. 11, and 15.2 cents cheaper than a year ago when it was $2.066. Gasoline was down in all regions, and lowest along the Gulf Coast, where it dropped 5.5 cents to $1.672.
Denton Cinquegrana, an analyst with the Oil Price Information Service, told Transport Topics the average retail diesel price Jan. 19 was lower than the average retail gasoline price in Alaska, California and Montana — and the two were even in Nevada, according to AAA’s Daily Fuel Gauge Report.
“I think you’re going to see more and more of that happening, particularly in the spring and summer [when demand for gasoline goes up],” Cinquegrana said.
Meanwhile, crude oil futures closed on the New York Mercantile Exchange at $28.46 a barrel Jan. 19. It was the lowest close since September 2003. The last close below $30 a barrel on Nymex was $29.95 on Dec. 1, 2004.
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|By Roger W. Gilroy|
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