Diesel Dips 0.4¢ to $2.899 a Gallon as Decline Slows
Diesel fell for the fourth straight week and ninth in the past 10, dipping 0.4 cent to $2.899 a gallon, the smallest of its recent declines, the Department of Energy said Monday.
The price is the lowest since it registered $2.861 on March 1, but trucking’s main fuel is now 40.3 cents over the same week last year, according to DOE records.
Gasoline, meanwhile, rose by the same amount, edging up 0.4 cent to $2.722 a gallon in its first gain in three weeks.
It was gasoline’s third increase in the past 10 weeks and left the price 25.9 cents higher than a year ago, DOE said following its weekly survey of filling stations.
Gas is down 18.3 cents from May 10, while diesel has fallen 22.8 cents since then. Diesel previously rose 37.1 cents in the three months from mid-February through mid-May.
The declines came despite oil reaching a July high last Tuesday of over $77 a barrel, Bloomberg reported.
Since then, oil has receded modestly to near $76 a barrel on the New York Mercantile Exchange, Bloomberg said.
Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price.
