Diesel prices flat for 4th straight week

The four-week average for diesel in the U.S. has remained steady as $2.22/gal., down nearly $2 from the same period a year ago.

The prices for the four weeks have changed less than a penny, according to the Energy Information Administration. For the week of April 20, the price sits at $2.22/gal, down a penny from last week. After climbing 13 cents from March 23 to March 30, the price has stayed at $2.22 or $2.23. A year ago, the price was $4.18.

New England remains the most expensive region with diesel selling at $2.40/gal., down 2 cents from a week ago. The Central Atlantic region and California each saw a 1 cent decrease to $2.39 and $2.34 respectively. Only the Rocky Mountain area posted an increase this week, jumping 2 cents to $2.27. The Midwest had the cheapest diesel, at $2.17.

Crude oil fell to a five-week low on the New York Mercantile Exchange this morning on fears of rising U.S. inventories, according to Bloomberg News. A barrel of crude for May delivery was trading at $44.58 at mid-morning, down $1.30 or 2.8%, rebounding from an earlier loss of 4.5% to $43.83.

The Energy Dept. will officially release the U.S. inventory supply report, expected to show a 2.5 million barrel increase, tomorrow, according to Bloomberg.