USDA Grain Transportation Report (8/11): ​Diesel Prices Fall Below $5/Gallon For First Time Since March

For the week ending Aug. 8, the U.S. average price of diesel fell 14.5 cents, to $4.993 per gallon, according to data from the U.S. Energy Information Administration (EIA).

Having fallen for seven consecutive weeks, the U.S. average diesel price dropped below $5 per gallon for the first time since March 7.

The diesel price reached a record high of $5.81 per gallon during the week of June 20.

According to EIA, the price dropped because of declines in both demand and oil prices.

In the Midwest, the key grain-producing region, the diesel price dropped 14.9 cents, to $4.959 per gallon.

This article comes from the U.S. Department of Agriculture's (USDA) Aug. 11, 2022, Grain Transportation Report.