The national average price for a gallon of diesel fuel has fallen for the sixth consecutive week, reaching $4.092, according to the Energy Information Administration. Diesel is now 87.5 cents per gallon cheaper than a year ago, with prices falling 45.3 cents in the last six weeks. Nineteen states have average diesel prices at $3.99/gal or lower. GasBuddy anticipates further decreases, possibly reaching $2.99/gal in certain regions. Factors contributing to the decline include decreased demand compared to production, technical indicators for wholesale diesel futures, and a stronger diesel crack spread relative to gasoline. The fall in diesel and gasoline prices aligns with a broader downturn in crude oil prices due to weaker-than-expected economic indicators in Europe and China. Despite OPEC+ efforts to cut production, the global economic slowdown is impacting demand. As of now, there are no significant support pillars for diesel prices.

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