Diesel Prices Drop Third Week in a Row

February 01, 2010

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The national average price of diesel dropped again this week for the third week in a row, matching the biggest drop in six months.

Weekly figures from the Department of Energy's Energy Information Administration released Monday show a national average of $2.781 per gallon, down a little over a nickel from the week before, a decline of nearly a dime a gallon over the past three weeks. The price is up 53.5 cents compared to a year ago.

The highest prices were seen in the New England region, where they still hover above $3 a gallon at $3.017. The lowest diesel was in the Midwest at $2.731 per gallon.

Oil prices, however, rose Monday, settling at $74.43 a barrel after falling for four days. The jump was caused by good economic new, including a better than expected report from the Institute for Supply Management's manufacturing index. A pipeline attack in Nigeria also sparked supply concerns, according to published reports.

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