Retail Diesel Price Drops 0.2 Cent to $2.543 a Gallon

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he average price of retail diesel fuel fell 0.2 cent to $2.543 a gallon, the Department of Energy reported Monday.

The downtick follows last week’s 7.4-cent rise, the largest since the record 34.6-cent gain last October. These are the first back-to-back weeks since November in which diesel has topped $2.50.

Meanwhile, the price of regular gasoline rose 3.5 cents to $2.366 a gallon, following last week’s 7.7-cent jump, DOE said following its weekly survey of filling stations.

The gasoline figures were in line with analyst Trilby Lundberg, who said in her twice-monthly survey over the weekend that gasoline prices had jumped 11 cents in the past two weeks. (Click here for previous coverage.)

Diesel has risen in five of 11 weeks so far this year, but has generally tracked upward from the $2.442 price on Jan. 2. Compared with the same week last year, this week’s price is 34.9 cents higher.

Last week, DOE said in its monthly short-term energy outlook that diesel would average $2.49 this year before retreating to $2.42 in 2007. (Click here for previous coverage.)

Regionally, the diesel price rose in the Rocky Mountain (2.1 cents to $2.566) and West Coast regions (1.4 cents to $2.725), and in California, which DOE breaks out separately from its regional prices (0.8 cent to $2.747).

The price fell in the East Coast region by 0.4 cent to $2.567, by 0.9 cent in the Midwest to $2.491 and by 0.2 cent in the Gulf Coast region to $2.497.

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