Diesel Dips for 2nd Week Despite Rise in Oil Prices
The national average price of diesel fuel dropped for the second straight week, this time by 1.9 cents, and an oil market analyst says November may see additional drops — perhaps by as much as 5 cents a gallon.
“November will be a kind of sloppy month,” he said. “I think October’s price increases were ‘borrowing’ from November, and now they will stabilize for a while."
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The retail diesel price, as reported by the Energy Information Administration on Oct. 30, was $1.629 a gallon, 4.1 cents below the record-high $1.670 reported on Oct. 16.
At the same time, oil futures prices rose, which usually signals an increase in the price of diesel and other fuels. But Tom Kloza, editorial director of the Oil Price Information Service, does not think that will be the case now.
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