Diesel Drops 3¢ to $3.98 a Gallon, Sliding Under $4 for First Time in Three Months
Diesel dropped 3 cents to $3.98 a gallon, its fourth straight decline and the first time it has been below $4 in three months, the Department of Energy said Tuesday.
Gasoline, meanwhile, fell 4.3 cents to $3.449, its fifth straight drop, during which it has plunged more than 40 cents.
The diesel decline leaves trucking’s main fuel 0.7 cent below a year ago, while gasoline is 1.3 cents over a year ago, according to DOE figures.
Diesel has declined 17 cents in the past month, and its price is the lowest since it was $3.965 on Aug. 13.
Gasoline, which has dropped 40.1 cents in the past five weeks, is at its lowest level since it was $3.508 per gallon on July 30.
The $4.15 price four weeks ago was diesel’s highest in more than four years.
Crude oil, which has been trading below $90 a barrel for the past month, fell for a second straight trading day Tuesday, declining 19 cents to finish at $85.38 on the New York Mercantile Exchange, Bloomberg reported.
Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price. This week’s price was released on Tuesday because of the Veterans Day holiday on Monday.
