-April 28,2020-
Fuel sellers offering diesel fuel this week for an an average of $3.29 a gallon in California are doing pretty well considering the plunge in their wholesaler costs.
The federal Energy Information Agency reports that the wholesale price for diesel in California is down to 58 cents a gallon this week. California taxes including the federal portion, add up to $1.11 a gallon – so sellers total cost other than overhead is $1.69 /gal. Sellers are doubling the price to the end user.
The average price for a gallon of diesel fuel across the U.S. again dropped from last Monday, according to an April 27 report from the U.S. Energy Information Administration, coming it at $2.437.
Weekly average diesel fuel prices for the U.S. have been dropping since Jan. 6. This is the 16th week of decreases in the weekly average.One year ago the average U.S. price was 73.2 cents higher.
Oil prices have plunged around the world including in Kern County where the price per barrel has declined to $11 a barrel – a price similar to what it was in the late 1980s.