EIA: U.S. Diesel Down 17.3cts on Week to $5.350 Gallon

SECAUCUS, NJ (DTN) — The U.S. Energy Information Administration reported Monday (6/1) that retail diesel prices moved lower for a third consecutive week during the week ended June 1, with the national average easing 17.3cts to $5.350 gallon.

Compared with the same time last year, diesel nationwide was up $1.899 gallon on average.

The weekly decline was spearheaded by a 23.1cts drop in the Midwest PADD 2 region to $5.392 gallon, while the smallest retrenchment occurred in New England PADD 1A, where prices dipped just 6.8cts to $5.731 gallon.

These regional adjustments come as robust refinery utilization rates in the nation’s midsection outpaced localized supply constraints and sluggish spring demand in the Northeast.

East Coast diesel prices fell 15.7cts to $5.237 gallon for the week ended June 1. This PADD 1 region showed a $1.720 gallon increase compared with the same period last year.

The Central Atlantic witnessed an 11.6cts decrease on the week. Prices in the PADD 1B region averaged $5.694 gallon, rising $1.928 compared with the previous year.

Diesel prices in the Lower Atlantic averaged $5.016 gallon. This PADD 1C region reflects an 18.5cts decrease on the week and a $1.632 gallon rise from the same time last year.

On the Gulf Coast, diesel fell 14.5cts on the week to $4.900 gallon. Compared with the prior year, prices in PADD 3 were up $1.803 gallon.

Rocky Mountain diesel saw a 16.2cts decrease on the week to $5.331 gallon. The PADD 4 region posted a $1.878 gallon increase compared with the same time last year.

West Coast diesel prices fell 10.2cts on the week to average $6.398 gallon. Compared with the previous year, the PADD 5 region was up $2.177 gallon.

West Coast less California diesel slipped 7.7cts on a weekly basis to $5.832 gallon. This represented a $2.087 gallon increase from the same time last year.

California diesel itself fell 13.1cts on the week to $7.051 gallon. Prices in the state remain the highest in the nation, sitting at $2.283 gallon above levels seen at the same time last year.