Diesel prices continue to fall around nation - TheTrucker
LITTLE ROCK, Ark. -- For nine weeks in a row, the average price for a gallon of diesel fuel in the U.S. has dropped. According to the Energy Information The average price for a gallon of diesel fuel in the U.S. has dropped for nine consecutive weeks, according to the Energy Information Administration (EIA). The lowest price is in California at $4.911 per gallon. Demand for distillate fuels, used in the trucking and home heating industries, has decreased due to sluggish manufacturing activity and a milder-than-expected winter. The EIA also noted that there is still plenty of renewable fuel supply in the country. The two most immediate US. ultra-low sulfur diesel futures contracts settled in the steepest contango since 2020.
发表 : 10 个月前 经过 John Worthen 在 Business
LITTLE ROCK, Ark. — For nine weeks in a row, the average price for a gallon of diesel fuel in the U.S. has dropped.
According to the Energy Information Administration (EIA), the price fell to $3.658 as of June 10. That’s down from $3.726 on June 3 and $3.758 on May 27.
Prices are down all across the country.
The lowest price can be found along the Gulf Coast at $3.384 per gallon. The highest is in California at $4.911 per gallon on average.
Along the East Coast, drivers can expect to pay $3.789 per gallon.
According to the EIA, demand for distillate fuels, which are used in the trucking and home heating industries, has dropped to 3.67 million barrels a day due to sluggish manufacturing activity and a milder-than-expected winter.
There’s also plenty of renewable fuel supply, the EIA notes.
The two most immediate U.S. ultra-low sulfur diesel futures contracts settled in the steepest contango since 2020 on Friday, according to a Reuters report. A market is in contango when prices for commodities are lower now than for future deliveries.