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10/23/2012 10:30:00 AM Write a Letter to the Editor Write a letter to the Editor

Diesel Drops 3.4¢ to $4.116; Gasoline Plunges 13.2¢ to $3.687

Larry Smith/Trans Pixs

Diesel dropped 3.4 cents to $4.116 a gallon, while gasoline plunged 13.2 cents to $3.687, its lowest level in almost three months, the Department of Energy said Monday.

The third downturn in five weeks leaves diesel 29.1 cents higher than the same week last year, while gas is 22.5 cents over a year ago, DOE figures showed.

Diesel’s $4.15 national average last week was its highest since August 2008 when it was falling from its all-time high of $4.764 earlier that summer.

Gasoline’s decline — its fourth in five weeks — leaves the motor fuel at its lowest level since Aug. 6, according to DOE figures.

Its 13.2-cent plunge is the biggest single-week downturn since late 2008, when it was falling from its $4.114 record set in July of that year.

Oil fell $1.32 Monday to a three-week low $88.73 a barrel on the New York Mercantile Exchange, Bloomberg reported.

Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price.

By Transport Topics

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