According to today's USDA Grain Transportation Report, for the week ending February 20, the U.S. average diesel fuel price decreased 6.8 cents from the previous week to $4.376 per gallon— 32.1 cents above the same week last year.
This latest drop marks the 4th consecutive week of decline.
The diesel price dropped by 16.3 cents a gallon in the past 2 weeks and 24.6 cents since January 30.
According to the Energy Information Administration’s February Short- Term Energy Outlook, the diesel price is projected to average $4.23 per gallon in 2023 and $3.70 per gallon in 2024.