School transportation departments around the country are rejoicing as the average price of diesel fuel nationwide has fallen for the fifth straight week.
The U.S. Department of Energy reported that the average retail diesel prices is down more than 4 cents, tracking at roughly $2.34. The actual cost for school districts and private contactors can be even lower based on bulk purchasing rates.
The main fuel for school buses and commercial trucking is also more than a dollar cheaper than it was this time last year, the price decline seen across all regions throughout the country. New England registered diesel’s sharpest reduction at 6.2 cents.
Additionally, this drop marks a new record for reduced prices, exceeding the low set in June 2009.
According to STN data, about 95 percent of the national legacy fleet of approximately 480,000 school buses are powered by diesel. During the most recent school bus manufacturing period that ended on Oct. 31, OEMs reported that 30,000 of the 41,200 school buses produced run on diesel.