Diesel Down 11.5 Cents to $4.603 a Gallon
The gasoline average likewise posted its biggest decline so far in 2008, falling 10.9 cents to $3.955. The drop marks the first time since early June that the average has dipped below $4 a gallon, DOE said.
In spite of diesel's decline — which was the second in as many weeks — trucking’s main fuel remains $1.717 per-gallon more expensive than in the corresponding week of 2007.
The diesel average fell in all six DOE regions, and in California, which DOE breaks out separately. The Midwest region, where the diesel average declined 13.1 cents a gallon from last week, posted the single biggest drop
Crude oil, meanwhile, rebounded from Friday's close of $123.26 a barrel, a seven-week low, on concerns of supply disruptions in Nigeria, Bloomberg News reported.
Crude rose $1.47, or 1.2% to settle at $124.73 a barrel on the New York Mercantile Exchange as investors reacted to news that Nigerian militants had attacked pipelines in that country operated by Royal Dutch Shell Plc.
Oil is now 62% higher than just a year ago.
Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price.
