Diesel Falls 5.9¢ to $3.897; Gasoline Drops Again
Diesel’s pump price continued its recent slide, falling 5.9 cents to $3.897 a gallon, its seventh straight decline and the lowest price since early February, the Department of Energy said.
Gasoline also fell, dropping 4.5 cents to $3.669 a gallon, its eighth straight downturn, DOE said Tuesday following its weekly surveys of filling stations.
The diesel slide — the biggest single-week drop in five months — leaves trucking’s main fuel 5.1 cents below the same week last year. Gasoline is now 12.5 cents under a year ago.
The diesel decline was the biggest since it fell 6.6 cents to $3.826 on Dec. 19, according to DOE records.
Diesel has dropped 25.1 cents in the past seven weeks, while gasoline has plunged 27.2 cents in eight straight declines.
Gasoline is now at its lowest level since it was $3.591 on Feb. 20, while diesel is at its lowest since it was $3.856 on Feb. 6.
The declines come on the heels of seven-month-low oil prices, with crude futures finishing on the New York Mercantile Exchange below $90 a barrel last week for the first time in seven months.
Crude dropped a dime Tuesday, falling to finish the Nymex trading day at $90.76 a barrel, 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 due to the Memorial Day holiday Monday.
