Diesel Drops 3.3¢ to $3.628; Gas Plunges 7.3¢ to Four-Year Low
Gasoline, meanwhile, plunged 7.3 cents to $2.821, the biggest drop in five weeks and lowest price in more than four years.
The downturns left diesel 21.6 cents below the same week last year, while gas is now 47.2 cents less than a year ago, DOE said after its weekly survey of filling stations.
The gasoline price was the lowest since Nov. 1, 2010, when it was $2.806 a gallon.
Diesel declined in all five of DOE’s national regions, led by a 4.3-cent drop in the Midwest to $3.743.
The Midwest price spiked more than 16 cents two weeks ago, leading to the first, and only, increase in the national average price since June.
Oil prices declined for the first time in three days, slipping 73 cents on Nov. 24 to close at $75.78 a barrel on the New York Mercantile Exchange, Bloomberg News reported.
That was not much above than the Nov. 13 Nymex closing price of $74.21 per barrel, a four-year low.
OPEC ministers are set to meet Nov. 27 in Vienna, Austria, to decide whether to cut production in light of low prices, Bloomberg reported.
Each week, DOE surveys about 400 diesel filling stations and 800 gasoline stations to compile national average prices.
