The U.S. average retail price of diesel froze during the week of Feb. 11, remaining at $2.966 a gallon.
The price for trucking’s main fuel is 9.7 cents a gallon cheaper than it was a year ago, according to the U.S. Energy Information Administration.
Diesel prices had been falling steadily since reaching a peak of $3.395 a gallon during the week of Oct. 15. Since then, there has been only one price increase of 0.1 cent, to $2.966 per gallon, which occurred the week ending Feb. 4.
The average cost of diesel decreased in all regions except the Midwest, where the price rose 1 cent, to $2.849 per gallon, and the West Coast, where the price remained at $3.435 per gallon.
Concerns that the global economy will slow down if the United States and China do not work out a trade agreement have contributed to keeping the price of oil relatively low.
The national average price of gasoline climbed 2.2 cents from $2.254 to $2.276.
On the trading floors, oil rebounded from a two-week low on Feb. 12 as Saudi Arabia pledged to deepen production cuts and President Donald Trump said he could extend a deadline for new tariffs on China, according to Bloomberg News.
West Texas Intermediate crude for March delivery rose 69 cents to $53.10 a barrel at the official closing of the New York Mercantile Exchange on Feb. 12.