Diesel Drops 5.3¢ to Near $4 a Gallon, in Biggest Decline This Year
Diesel took its biggest decline in five months, falling 5.3 cents to $4.004 a gallon, and gasoline fell for a sixth week, the Department of Energy said Monday.
Gasoline fell 3.6 cents to $3.754 a gallon, DOE said following its weekly survey of filling stations.
In six weeks, the motor fuel has fallen a cumulative 18.7 cents and is now 20.6 cents below the same week last year.
The diesel decline leaves it at the lowest level since February and 5.7 cents below the same week last year, DOE said.
Trucking’s main fuel has declined 14.4 cents in the past five weeks, along with falling oil prices, which finished at a 2012-low near $96 a barrel on Friday.
Oil fell another $1.35 on Monday to finish the trading day at $94.78 a barrel on the New York Mercantile Exchange, the lowest since Dec. 19, Bloomberg reported.
Monday’s diesel price is the lowest since it was $3.96 per-gallon on Feb. 20, and the decline is the biggest since it took a 6.6-cent drop on Dec. 19.
Gasoline’s price is the lowest since it was $3.721 per gallon on Feb. 27, DOE records showed.
Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price.
