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April 24, 2007 4:15 PM, EDT

Diesel Drops 2.6¢ to $2.851

Gas Falls for First Time in 12 Weeks, Dipping 0.7¢
Larry Smith/Trans Pixs

The national average price of retail diesel fuel fell for the first time in a month Monday, dropping 2.6 cents to $2.851 a gallon, the Energy Department said.

Diesel had risen for three straight weeks and Monday’s price is 27.1 cents higher than it was at the beginning of the year, though it is 2.5 cents below the same week last year, according to DOE figures.

Gasoline, meanwhile, dipped 0.7 cent to $2.869 a gallon, following 11 straight gains, DOE said following its weekly price survey.

In the 11 weeks of increases, gas rose 71.1 cents. The gas price is now 4.5 cents below it was in the corresponding week last year.

Crude oil prices rose to near $66 a barrel Monday, gaining $1.78 to close at $65.89 on the New York Mercantile Exchange, Bloomberg reported.

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