Diesel Price Falls For 4th Straight Week

The national average for retail diesel fuel prices fell for the fourth straight week, reaching $1.059 a gallon on June 7, down from $1.065 the week before.

"I think when you look at prices next week, they will be the same or slightly lower," said Scott Berhang, executive editor of Oil Price Information Service's Diesel Price Index.

He said the main reason is that it will take time to work off surpluses of refined petroleum products.

In California last week, diesel prices rose to $1.352, up from $1.312. The increase was the first sign of a reversal following nine straight weeks of reductions in the average cost.

Except for a 0.5-cent increase between May 3 and 10, the national average price has dropped since reaching a peak of $1.084 a gallon on April 12. Its low mark for 1999 was 95.3 cents on Feb. 22.