Diesel Prices Keep Declining

LONDON, ON and WASHINGTON, D.C. — Diesel prices continue falling in both Canada and the U.S. and are at their lowest levels in several years, according to two newly issued weekly reports.

In Canada, the national average fell $0.019 from last week to $1.031 per liter, following no change the week before.

The petroleum information services provider The Kent Group reports this marks the 10th consecutive week it has failed to increase and is the lowest price since October 2010. 

Compared to this week last year the price is down $0.267 per liter.

Prices in the four main regions of the country are all down over the past week with the Atlantic Provinces seeing an average of $0.978, $1.08 in Quebec, $1.008 in Ontario and $1.051 in the Western Provinces.

Regular grade gasoline also fell over the past week, giving up $0.035 for a national average of $1.106 per liter. This is only its second consecutive weekly drop and is the lowest price since April.

When compared to this week in 2014, the price is down $0.222 per liter.

Meantime, in the U.S., the average cost of diesel fell to its lowest level since July 2009, according to the Energy Department.

It declined US$0.047 over the past week to US$2.514 per gallon, marking the 14th straight weekly drop. During this time is has lost a cumulative amount of US$0.40 and is US$1.30 per gallon less than this time last year.

The average U.S. cost of regular grade gasoline fell US$0.127 over the past week to $2.51 per gallon, and is nearly US$0.95 less than a year earlier.


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