Diesel Fuel Costs Return to Lowest Levels in Years

LONDON, ON and WASHINGTON, D.C. — The average Canadian retail diesel price turned around this week following a small increase the week before, hitting its lowest level in five years, while in the U.S. it fell for to its lowest point in more than six years.

Trucking’s main fuel fell $0.011 in Canada to $1.025 per liter, according to the petroleum information services provider The Kent Group. This is the lowest since Sept. 28 2010.

Compared to this week in 2014 the current price is $0.261 less per liter.

Average prices in the different regions of Canada this week came in at $1.037 in the Atlantic Provinces, $1.089 in Quebec, $1.000 in Ontario and $1.035 in the Western Provinces.

In the U.S., diesel fell US$0.024 over the past week for a national average of US$2.493 per gallon, following a US$0.017 drop the week before, according to the country’s Energy Department.

The current price is the lowest since June 2009 and is US$1.285 less that compared to the same time last year.

Back here at home, the average price for regular grade gasoline declined $0.01 over the past week to $1.061 per liter following a $0.018 decline the week before and hitting its lowest level since March.

Compared to the same time a year ago the current price is $0.233 less.

Meantime, in the U.S. the average cost of regular grade gasoline fell US$0.048 cents over the past week to US$2.327 per gallon, which is US$1.026 less than this time last year.

This news comes as oil prices have been trading in a narrow band in recent weeks after falling to more than six year lows last month, according to the Wall Street Journal, amid concerns of an economic slowdown in China, the world’s second largest consumer of crude, behind the U.S. 


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