Diesel Falls for Third Week, Dropping 2.1¢ to $2.903 a Gallon
Diesel fell another 2.1 cents to $2.903 a gallon, its third straight downturn and eighth decline in nine weeks, the Department of Energy said Monday.
Diesel is at its lowest level in since registering $2.861 on March 1, but is 36.1 cents higher than the same week last year, DOE said following its weekly survey of filling stations.
Gasoline also fell, dipping 0.8 cent to $2.718 a gallon, its second straight drop and the seventh in the past nine weeks, leaving it 19 cents higher than the same week last year.
Gas has fallen 18.7 cents since May 10, while diesel has declined 22.4 cents since then. Diesel had gained 37.1 cents in the prior three months from mid-February.
The declines came despite oil prices rising more than $4 last week to top $76 a barrel on the New York Mercantile Exchange, although crude futures fell more than $1 Monday to close below $75 a barrel on the Nymex, Bloomberg reported.
Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price.
