Diesel Price Drops for Second Week
The national average price of diesel fuel provided a little holiday cheer by dropping for the second consecutive week. But the fall to $1.288 a gallon prompted one analyst to warn that the oil market was in a purge-and-binge mindset.
“We purged last week and now we are bingeing,” said Tom Kloza, editorial director of the Oil Price Information Service.
Bloomberg News Service rang in with a report that higher oil prices “probably contributed” to an increase in U.S. consumer prices during November.
 | Fuel Prices | ||
| Week of Dec. 13: | |||
| source | price | change | |
| DOE | 128.8 | -0.6 | |
| Comdata | 127.6 | -0.8 | |
| OPIS self-serve | 128.8 | -0.8 | |
| OPIS wholesale | 72.0 | -1.0 | |
| |||
He noted that crude oil resumed its upswing after going below $25 a barrel on the New York Mercantile Exchange, where it hit an eight-year high of $27.07 two weeks ago, and that diesel fuel will surely follow, as it has done throughout 1999.
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