Diesel Drops 2.8¢ to $3.721 in Fifth Decline
Diesel fell for a fifth straight week, dropping 2.8 cents to $3.721 a gallon, while gasoline also slipped for a fifth week, the Department of Energy said Tuesday.
Gasoline dipped 1.6 cents to $3.417 a gallon, DOE said following its weekly surveys of filling stations.
Both fuels are at their lowest levels since late February, when diesel averaged $3.716 and gas was at $3.383, DOE figures showed.
Trucking’s main fuel has fallen 14.7 cents in the past five weeks and is now 40.3 cents below the year’s high of $4.124, set in early May.
Despite the recent declines, diesel is 65.5 cents higher than the same week last year. Gas is 59.8 cents over a year ago.
Oil rose for a fifth day on Tuesday, gaining 40 cents to $85.81 a barrel on the New York Mercantile Exchange, Bloomberg reported.
Crude futures have gained more than $10 in a past week, according to Bloomberg figures.
Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price. This week’s survey was released Tuesday due to the federal holiday on Monday.
