US fuel prices continue to decline moderately

August 4, 20220

Diesel prices continue to decline after several weeks of record growth.

According to the latest data from the US Energy Information Administration, the national average per gallon of diesel fuel is $5,138 per gallon, up from $5,268 on July 25 and $5,432 on July 18.

US benchmark crude oil futures fell $4,73 on Monday to $93,89 per barrel.

Brent crude for October delivery fell $3,94 to $100,03 per barrel.

Wholesale gasoline prices for September delivery fell 11 cents to $3 a gallon.

Heating oil for September delivery fell 11 cents to $3,44 a gallon. Natural gas for September delivery rose 5 cents to $8,28 per 1000 cubic feet.

Industry analyst Trilby Lundberg of the Lundberg Survey believes the decline in fuel prices is due to falling crude oil prices, according to Monday’s market report.

“Fuel prices are forecast to fall further as wholesale prices continue to fall to retail levels,” says Lundberg.


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