Diesel Price Drops for Second Week

The national average price of diesel fuel provided a little holiday cheer by dropping for the second consecutive week. But the fall to $1.288 a gallon prompted one analyst to warn that the oil market was in a purge-and-binge mindset.

Fuel Prices
Week of Dec. 13:
sourcepricechange
DOE128.8-0.6
Comdata127.6-0.8
OPIS self-serve128.8-0.8
OPIS wholesale72.0-1.0

“We purged last week and now we are bingeing,” said Tom Kloza, editorial director of the Oil Price Information Service.

He noted that crude oil resumed its upswing after going below $25 a barrel on the New York Mercantile Exchange, where it hit an eight-year high of $27.07 two weeks ago, and that diesel fuel will surely follow, as it has done throughout 1999.



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Bloomberg News Service rang in with a report that higher oil prices “probably contributed” to an increase in U.S. consumer prices during November.

For the full story, see the Dec. 20 print edition of Transport Topics. Subscribe today.