Diesel Takes First Dip in Four Weeks

November 09, 2009

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Diesel broke its four-week rise, falling 0.7 cents to $2.801 Monday, landing at the same price as Oct. 26
, according to the Department of Energy. Since Oct. 5, trucking's main fuel had gained 22.6 cents, reaching its highest level in almost a year.

This week's average is a close 14.3 cents below the price during the same week last year, when it was at $2.944.

California saw the highest prices of diesel this week, with an average of $2.972, followed by the Central Atlantic and West Coast regions, at $2.926 and $2.909, respectively. In contrast, the Gulf Coast and Lower Atlantic regions saw the lowest averages, at $2.746 and $2.772, respectively.

Gasoline did not continue its upward trend this week, falling 2.8 cents to a national average of $2.666. The price is 44.2 cents higher than the same week last year.

Crude oil gained 3 percent Monday, landing at $79.73 a barrel on the New York Mercantile Exchange, according to the Wall Street Journal. The publication attributes the gain to dollar weakness, a strong equity market, and the closing of offshore U.S. oil production as a result of Tropical Storm Ida.

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