During the week ending February 17, U.S. on-highway diesel fuel prices averaged $2.89 per gallon, 2 cents lower than the previous week and 11.6 cents below last year. Average diesel prices have fallen 18.9 cents per gallon over the past 6 weeks.
A fall in crude oil demand because of the coronavirus and warmer than normal January temperatures in the United States have put downward pressure on crude oil and diesel fuel prices. Inventories of distillate fuel oils, used to make both diesel fuels and heating oils, have fallen each of the past 4 weeks ending February 7, after reaching a more than 2-year high in early January.
