Diesel Declines 2.9¢ to $4.13 a Gallon; Gasoline Drops for First Time This Year
Diesel fell for the first time in seven weeks, dropping 2.9 cents to $4.13 a gallon, and gasoline fell for the first time this year, the Department of Energy said.
Gasoline, meanwhile, fell 2.5 cents to $3.759 a gallon in its first decline since late December, DOE said Monday following its weekly survey of filling stations. The motor fuel had not posted a week-to-week decline since Dec. 24.
Diesel’s first downturn since Jan. 14 left it 3.6 cents over the same week last year, while gas is now 3.4 cents below a year ago.
Trucking’s main fuel had gained 26.5 cents in six previous increases, including a 23.2-cent jump last month to its highest February level on record — $4.159 per gallon — recorded last week.
Gasoline had taken an even bigger run-up, jumping 53 cents in 11 straight gains.
Last week’s diesel price was the highest since August 2008, according to DOE records.
The declines followed lower oil prices last week, which slid to near $90 a barrel on the New York Mercantile Exchange for the first time since December.
Crude futures fell 56 cents on Monday to finish the trading day at $90.12 a barrel, the lowest Nymex closing price since Dec. 24, Bloomberg News reported.
Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price.
