Diesel Dips 0.9¢ to $2.470 a Gallon
The U.S. average retail price of diesel dipped 0.9 cent to $2.470 a gallon, according to the Department of Energy.
The national average price is 3.2 cents less than it was a year ago, DOE said after its Nov. 7 survey of fueling stations.
The average diesel price in the regions was mixed: declining in seven, even in two and rising in two others.
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Diesel declined the most in the Midwest where it fell 1.8 cents to $2.425, according to DOE. Trucking’s main fuel rose by 1.8 cents on the West Coast excluding California.
The decline of the national average follows a rise the prior week when the U.S. average retail price of diesel rose 0.1 cent to $2.479 a gallon.
The U.S. regular gasoline average price rose 0.3 cents to $2.233 a gallon, 0.2 cent more expensive than a year ago, DOE’s Energy Information Administration reported.
West Texas Intermediate crude oil for December delivery climbed 82 cents, or 1.9%, to settle at $44.89 a barrel on the New York Mercantile Exchange, Bloomberg News reported. The contract slid 1.3% to $44.07 on Nov. 4, the lowest close since Sept. 20, and prices fell 9.5% last week, the most in almost 10 months, according to Bloomberg.
A magnitude 5 earthquake struck less than 2 miles west of Cushing, Oklahoma, the nation’s largest crude-storage hub, prompting some pipeline companies to shut operations. Oklahoma’s oil and gas regulator reported that all pipelines under its jurisdiction were operating again, Bloomberg reported.
The largest U.S. gasoline pipeline restarted the morning of Nov. 6, six days after an explosion and fire in Alabama during planned work on the line.
RELATED: Colonial restarts largest US gasoline line after blast
Crews removed the affected portion of the pipeline from the blast on Nov. 5 and installed a new segment. The company said Line 1 resumed service at 5:45 a.m. local time.
“Subsequent to today’s successful restart, it is expected to take several days for the fuel delivery supply chain to return to normal," Colonial said in an online statement.
The Oct. 31 explosion that killed one worker and injured several also shut a sister pipeline that hauls diesel and jet fuel for several hours.
