Key diesel prices down to levels not seen since March

From FreightWaves.

On Monday, two key diesel prices fell to levels last posted in March.

The weekly average retail diesel price from the Department of Energy/Energy Information Administration fell for the 13th time in 14 weeks, posted at $4.889 a gallon, a decline of 7.5 cents a gallon.

It’s the lowest posting for the benchmark price used for most fuel surcharges since a price of $4.849 a gallon on March 7. That was a 40.1-cent increase that week, following an increase of almost 75 cents the week before as the Russian invasion of Ukraine was swinging into full force. That shows that the retail price in the U.S. still has a long way to fall before it gets to prewar levels.

The latest price puts the DOE/EIA diesel price on track to soon be down a full dollar per gallon from its all-time high. That was $5.81 on June 20, which was the price posted before the stretch of 13 declines in 14 weeks.

See the complete article from FreightWaves online.