Diesel Dips 2¢ to $4.01 a Gallon; Gasoline Drops Again, Falling 7.6¢, to $3.492
Diesel fell 2 cents to $4.01 a gallon, its third straight downturn, while gasoline fell 7.6 cents to $3.492, its fourth straight decline, the Department of Energy reported Monday.
The diesel drop leaves it 12.3 cents higher than the same week last year, while gasoline is 6.8 cents over a year ago, according to DOE figures.
Trucking’s main fuel has declined 14 cents in the past three weeks and by a cumulative 12.5 cents in five drops in seven weeks, while gasoline has plunged 35.8 cents in the past month.
Last week’s 8.6-cent diesel drop was the biggest single-week decline since December 2008, while its $4.15 price three weeks ago was the highest in more than four years.
Gasoline’s 13.2-cent plunge two weeks ago was its biggest decline since December 2008, while Monday’s price is the lowest in almost four months, since it was $3.427 per gallon on July 16.
After closing at $84.86 a barrel on Friday — the lowest closing price in almost four months — crude oil rose 79 cents Monday to finish at $85.65 on the New York Mercantile Exchange, Bloomberg reported.
Several East Coast refineries were attempting to get back up to full production Monday following full or partial shutdowns from Hurricane Sandy last week.
Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price.
