National average retail diesel prices took a 5.7-cent fall last week to average $2.259 per gallon, according to the Energy Information Administration (EIA). This breaks a four-week streak of record high diesel prices, but year-over-year this marks a hefty 53.5-cent premium.
The oil-rich Gulf Coast region saw the biggest price drop on a 7.1-cent decrease to $2.18. The region also holds the crown for being the cheapest in which to fill up. Although all regions posted a decrease in prices in New England held the steadiest. There was only a 1.6-cent reduction to $2.418. California remains the most expensive region, as prices averaged $2.582.
EIA expects diesel prices to continue to decline from record levels over the next few weeks due to slackened distillate demand-a petroleum product which diesel fuel is derived from- and profitable market incentives for refiners to boost diesel production.