November 3, 2003 4:30 PM, EST

Average Diesel Price Drops 1.4 Cents to $1.481

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he average retail price of diesel fuel declined 1.4 cents a gallon to $1.481, the Department of Energy reported Monday.

Commercial trucking's dominant fuel has dropped 2.1 cents over the past two weeks, following a three-week spike of 7.3 cents.

Diesel is 3.9 cents ahead of the corresponding week a year earlier and 23 cents below the all-time high of $1.771 set in March.

DOE also said Monday the average price for regular unleaded gasoline fell 0.7 cent to $1.535 a gallon, the lowest level in three months.

The decline was the ninth in the past 10 weeks. About one-third of commercial trucking uses gasoline.

The price of diesel increased in DOE's Rocky Mountain and West Coast regions, while declining in the Gulf Coast, East Coast and Midwest.

The Midwest reported the largest decline, 2 cents, to $1.478. The Rocky Mountains saw a 0.7 cent increase.

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

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