Diesel fuel prices continue to decline to levels not experienced since 2010. After a small increase in May and June of this year, the US average price has settled around $2.50/gallon the past two months.
The adjacent chart shows that the lowest average monthly price since the start of 2012 was $3.72/gallon in July, 2012. In the following 26 months, the price has remained above that level. Since October 2014, diesel fuel prices have dramatically fallen below that benchmark price. Industry forecasts for 2016 expect that diesel fuel prices will not appreciably increase due to continuing concerns of the surplus global oil supply and weak demand.
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