AASHTO Journal, 20 March 2015
The national average pump prices of both gasoline and diesel fuel fell moderately in the week ending March 16, the Energy Information Administration said, for the first weekly drop since pump prices began spiking early this year.
Source: Energy Information Administration
The 3.4-cent drop for gasoline was the first in seven weeks, the EIA said, and left the average retail price at $2.45 a gallon.
For diesel, a 2.7-cent decline was the first in six weeks, and left the average national price just below $2.92.
Daily pump prices, tracked by the AAA motor club, also edged downward for days before ticking slightly higher on March 18.
Even during the fast run-up in prices during February and early March, fuel market analysts had predicted that pump prices would flatten by spring and then probably ebb some before the peak driving season commences around Memorial Day.
And despite a spike of more than 40 cents a gallon from late January, average U.S. gas prices remained below their mid-December levels and were down more than $1.09 from the same point in March 2014.
Diesel rose more slowly in recent weeks, peaked in March below its mid-January levels and on March 16 was also about $1.09 below its year-ago average pump price.