Diesel Price Falls Another 7.2 Cents to $1.997
he Department of Energy said Monday the national average price of diesel fuel declined 7.2 cents to $1.997 a gallon, the lowest price in nearly three months.
Trucking burns about 650 million gallons of diesel fuel each week, which would translate into 46.8 million in savings than a week ago.
The price of diesel was the lowest since $1.912 on Sept. 20. That was also the last time the average diesel price was below $2.
DOE also said Monday the average U.S. retail price for regular gasoline fell 6.4 cents to $1.847.
It was the seventh decline in eight weeks and the lowest since $1.846 on Sept. 13. Gasoline was 38.2 cents higher than a year earlier.
Meanwhile, the price of crude oil for January delivery rose 39 cents, or 1%, to $41.10 a barrel at the close of trading on the New York Mercantile Exchange, Bloomberg reported. Oil has declined 26% from a record of $55.67 on Oct. 25.
Oil rose on speculation that colder temperatures in the Northeast could reduce stockpiles, Bloomberg said.
DOE said the price of diesel declined at least 4.8 cents in each of its five sections of the country. The largest decline of 8.5 cents was reported in the Gulf Coast. Its price is $1.91, the cheapest in the nation.
Each week, DOE surveys 350 diesel-filling stations to compile a national snapshot price.
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