Have you been spending less money at the pump? Fuel prices have been on the decline, and there’s no sign of stopping. That’s true across the board, even for diesel fuel. So, now is a good time to take a road trip if the price of fuel is what has been holding you back. The low fuel costs are expected to carry through the holidays, too, so go see your family.The price of regular grade gasoline is also declining, with the highest prices found on the West Coast. Plus, crude oil is as low as $80.54 per barrel. Diesel should continue to follow the trend of other fuel costs.
According to Evan Lockridge, diesel fuel is at the lowest price it’s been since February 2011. And, it’s actually been 18 weeks since diesel fuel has had any price increase. That’s good news for consumers, especially those who drive trucks that run on diesel. Everyone knows the price of diesel won’t remain low forever, but consumers will benefit at least through 2015.
At the end of October 2014, diesel prices ranged between $3.563 to $3.799, depending on where you lived. The U.S. Energy Information Administration projects the average retail price of diesel fuel for 2015 to be $3.78 per gallon. That means consumers will be able to take advantage of the low fuel costs for at least a few more months. Of course, things can always change quickly depending on what happens in the world.
You can never expect diesel fuel, or the cost of any commodity, to remain unaffected when a natural disaster, war, or other global issue comes into play. However, you can take advantage of the low prices when they happens. That’s what consumers of diesel fuel are doing right now.