Diesel Prices Likely to Decrease in Summer


Pete Zarria / Foter / Creative Commons Attribution-NonCommercial 2.0 Generic (CC BY-NC 2.0)

The Energy Information Administration reported that diesel prices fell by 1.1 cents to $3.964. The average gallon prices were gaining for two weeks, but the trend has been discontinued. The price for May 2014 is still 11.9 cents higher than May 2013.

This recent decrease may be a sign of the summer decrease that the Department of Energy has predicted. The expected summer price is $3.87.

Currently, there are still great regional differences in the average prices, sometimes even up to 20 cents. The biggest recent decrease was in New England  by 2.7 cents. Next are the Midwest with 1.2 cents, the Gulf Coast with 1.1 cents and the East Coast with 1 cent. The highest diesel prices are still in New England – $4.181, while the lowest are in the Gulf Coast – $3.813.

Read the full article at Overdrive.