Diesel Price Falls for 11th Straight Week
The price of diesel fuel fell 2.9 cents last week to $1.194 per gallon, the 11th straight week it has declined, according to a report released Monday by the Department of Energy. The price is the lowest since it stood at the same level on August 30, 1999. The price has declined a total of 33.3 cents since a reading of 1.527 the Monday after the terrorist attacks.
The majority of commercial trucking is conducted with large trucks, which burn diesel fuel, so the price greatly impacts the price of trucking services.
The national average price of gasoline fell 1.9 cents per gallon to $1.108 last week. The price is 37.8 cents per gallon lower than it was at the same point in 2000.
The West Coast saw the most dramatic drop in the price of diesel fuel, dropping 4.4 cents to 1.259 per gallon. California, which the DOE considers a sub-region of the West Coast, saw the price dive to $1.30 per gallon from $1.39.
All other regions saw more modest declines, including in the Midwest, where the diesel prices fell 3.2 cents to 1.198 per gallon.
The region with the lowest average price was the Gulf Coast, where it was 1.142 per gallon.
The DOE’s Energy Information Administration surveys 350 fueling stations in five districts at the start of each week, and usually reports the results on the same day that it polls the stations.
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