The U.S. average retail diesel price fell for the eighth consecutive week, down 2.4 cents a gallon to $2.211, the Department of Energy reported Jan.4.
Trucking’s main fuel was 92.6 cents a gallon cheaper than a year ago, when it was $3.137, DOE’s Energy Information Administration said. It's the lowest national price for diesel since May 4, 2009, when it was $2.185.
Diesel prices fell across the country, except for in the West Coast-less-California region, and by the most in the Rocky Mountain region, dropping 3.6 cents to $2.191.
Diesel’s lowest price was along the Gulf Coast, down 2.6 cents to $2.114. It was highest in California, slipping 1.4 cents to $2.595.
The national average price of gasoline last week fell six-tenths of a cent to $2.028 a gallon, EIA said.
Crude oil futures closed on the New York Mercantile Exchange at $36.76 a barrel Jan. 4, down .05 cents from its close Dec. 28 at $36.81.
EIA said the energy component of the widely followed S&P Goldman Sachs Commodity Index fell 41% from the start of 2015, a larger decline than the industrial metals, grains and precious metals components, which declined 24%, 19% and 11%, respectively, in 2015.
EIA said reformulated gasoline blendstock for oxygenate blending not only had the lowest price decline of all energy commodities, but it also declined less than many nonenergy commodities because of increased gasoline consumption in the United States and in other countries.
In contrast, gasoil and ultra-low-sulfur diesel had the largest price declines of the energy commodities as a result of rising U.S. and global distillate inventories along with lower economic growth in emerging markets.