USDA Grain Transportation Report (12/29): Diesel Price Drops For 7th Consecutive Week

According to today's USDA Grain Transportation Report, for the week ending December 26, the U.S. average diesel fuel pricefell 5.9 cents from the previous week to $4.537 per gallon, 92.2 cents above the same week last year. Since November 7, the diesel price has declined 79.6 cents per gallon.

Lower diesel prices are due to increased refinery output, as well as the combined decreases in crude oil prices and wholesale and retail margins. In the Midwest, the diesel price dropped 7.5 cents per gallon to $4.402, 92.3 cents above the same week last year.