Diesel Price Falls for Fifth Week, Slipping 1.6¢ to $2.843
Diesel’s national average price declined 1.6 cents to $2.843 per gallon, the fifth consecutive decrease, the Department of Energy reported June 29.
The decline left it $1.077 less than a year ago, DOE said after its weekly survey of filling stations, and trucking’s main fuel has declined 5.6 cents in June.
Gasoline declined 1.1 cents to $2.801 a gallon, DOE reported. The decline left the price 90.3 cents below a year ago.
Oil settled at $53.33 a barrel on the New York Mercantile Exchange, the lowest close since June 8, Bloomberg News reported.
According to the June 28 Lundberg Survey Inc. the highest price for gasoline in the lower 48 states among the markets surveyed was in San Diego, at $3.52 a gallon. The lowest price was in Jackson, Mississippi, where customers paid an average $2.44 a gallon. Regular gasoline averaged $2.96 a gallon on Long Island, New York, and $3.50 in Los Angeles.
Gasoline prices dropped as U.S. refiners produced the most gasoline for this time of year since at least 1983, increasing stockpiles of the fuel for two straight weeks, Bloomberg reported.
“I expect pump prices will continue to drift down from here,” Trilby Lundberg, the president of Lundberg Survey, told Bloomberg in a telephone interview June 28. There are multiple reasons for the downward pressure, including “flush supply,” she said.
Each week, DOE surveys about 400 diesel filling stations and 800 gasoline stations to compile national average prices.
