It is great news that diesel prices have been continuously dropping since the Recession and this is now the first time since 2009 that the price of diesel fluid has been this cheap. This is always excellent for logistics and procurement professionals and ensures that more trade and commerce can continue because of this drop in diesel price.
The U.S. average retail diesel price fell 3.7 cents a gallon to $2.445, its lowest point in nearly 6 1/2 years, the Department of Energy reported Nov. 23.
The last time the national average for trucking’s main fuel was this low was June 1, 2009, when diesel was $2.352 a gallon. It’s now $1.183 a gallon cheaper than a year ago, when the price was $3.628.
Retail prices dropped in all areas of the nation, with the Midwest showing the greatest decrease, 5.3 cents, to put prices there at $2.441.
Diesel fuel fell the least in Rocky Mountain region, 1.4 cents, where it stood at $2.474.
The national average price of gasoline also took a big drop, falling 8.4 cents to $2.094 a gallon, which is 72.7 cents cheaper than a year ago. It was driven by a 15-cent drop in the Midwest region, where prices were $1.935.