Diesel prices drop by a dime since last week

0
13K


The national average cost of diesel has dropped since last week, according to AAA.

 

AAA reports that on July 12, the national average cost for a gallon of diesel has dropped from $5.726 a week ago to $5.625 today.

The cost of a gallon of diesel on July 12 is the highest in California at $6.787 per gallon. The state where diesel is cheapest is Texas, where the average cost for diesel is $5.048 per gallon.

 

The highest national average cost for a gallon of diesel ever recorded by AAA was $5.816 on June 19, 2022.

According to AAA, gasoline costs are also coming down, with a current national average cost of $4.67 per gallon.

“The national average has declined for 27 days straight, or four weeks, the longest decline in average gas prices since the pandemic started in 2020. Average gas prices are down nearly 40 cents, with Americans shelling out $140 million less on gasoline every day than they did a month ago,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “We may see the trend last a fifth week, as long as oil prices remain cooperative and don’t surge beyond $105 per barrel, and as long as refinery production of gasoline remains strong. But we’re not completely out of the woods yet – we could also see a sharp reversal in the decline. There remains the risk of a spike in prices that could send us to new record levels in August, should any disruptions occur. It could be a wild ride, but for now, the plummet at the pump shall continue.”

 

Fuel analysts at GasBuddy pointed to a surge in oil inventories last week as part of the reason for the decreasing costs at the pump. Oil is currently around $100 per barrel, which is helping to somewhat drive down high fuel costs.



Search
Sponsored
Categories
Read More
Trucking News
Pennsylvania Mom Faces Possible Vision Loss After Ice Flies Off Passing Tractor-Trailer on I-376 and Crashes Through Her Windshield
PITTSBURGH, PENNSYLVANIA — An Allegheny County woman says she’s lucky to be alive...
By Truck Drivers Life 2026-02-07 18:06:35 0 1K
Trucking News
45-Vehicle Pileup I-70 in Vigo County as Winter Weather Slams Indiana
INDIANAPOLIS, INDIANA — A massive 45-vehicle pileup brought all westbound lanes of...
By Truck Drivers Life 2025-11-30 15:27:07 0 2K
Trucking News
Man Arrested Over a Year After Fatal I-84 Tractor-Trailer Crash in Union
Update: 20:31 March 20 2025 Union, CT – A truck driver involved in a fatal crash on...
By American Truck Drivers 2025-03-20 16:47:16 0 8K
Trucking News
Fiery crash leaves semi hanging off overpass in Florida
A truck crashed partially off of an overpass and caught fire in Florida on Friday morning....
By MEGA MISTAKES 2022-05-29 12:32:44 0 13K
Trucking News
$100k bond set for driver after crash sparked by stopped van on Texas freeway
A truck driver has been jailed on $100,000 bond after a fatal crash involving a van stopped on a...
By Truck Drivers Life 2022-04-20 18:43:07 0 22K
News | Truck Drivers Life | Social Network for Truck Drivers https://www.truckdrivers.life