Diesel Keeps Tumbling; Slips 2.2¢ to $3.733
Diesel fell 2.2 cents to $3.733 a gallon, its 14th straight week without an increase and 25th decline in the past 30 weeks, the Department of Energy reported Oct. 6.
The national average pump price for trucking’s main fuel is at its lowest level in more than two years, since it was $3.695 on July 16, 2012.
The downturn left if 28.8 cents below its 2014 high of $4.021 in mid-March and 16.4 cents below the same week last year, DOE said after its weekly survey of filling stations.
Gasoline, meanwhile, fell 5.5 cents to $3.299, its 12th downturn in 14 weeks and lowest price since February. The motor fuel, which is 6.8 cents below a year ago, has plunged 40.5 cents since June.
The declines followed low oil prices, as crude futures fell to the lowest level in a year and a half Friday, closing at $89.74 a barrel on the New York Mercantile Exchange.
That was the first time oil futures finished a Nymex trading day below $90 since April 23, 2013, Bloomberg News reported.
Each week, DOE surveys about 400 diesel filling stations and 800 gasoline stations to compile national average prices.
