Diesel drops 12 cents in last four weeks, down to $3.75
New England held on to the highest regional price at $3.941, though the state premium in California brought the cost of a gallon of diesel to $4.007. The Gulf Coast region had the lowest average price, $3.693.
The Trucker Staff
10/3/2011
10/3/2011
WASHINGTON — The average price for a gallon of diesel has followed declining crude oil prices, falling another 3.7 cents last week and making for an 11.9 cent decrease in the past four weeks.
According to the Oct. 3 report by the Energy Information Administration of the Department of Energy, the weekly nationwide retail on-highway price for a gallon of diesel was $3.749, a price lower than any since the Feb. 28 report. Five months ago, diesel hit the high for the year, $4.124 on May 2.
Benchmark crude on Monday fell $1.59, to finish the day at $77.61 per barrel. Prices tumbled as low as $76.85 earlier in the day. Oil hasn't been that low since September 2010.
The cost of a gallon of diesel was down 4.1 cents in the Central Atlantic states for the largest regional decrease, while the Rocky Mountain and New England regions recorded a decline of about 2 cents.
New England held on to the highest regional price at $3.941, though the state premium in California brought the cost of a gallon of diesel to $4.007.
The Gulf Coast region had the lowest average price, $3.693.
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