Diesel Falls for Second Straight Week, Crude Hovering Around $106 Per Barrel

August 12, 2013

By Evan Lockridge

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The price for diesel has fallen for the second straight week, putting it a little above where it was four weeks ago.

A new report from the U.S. Energy Department shows the average cost this week is down 1.3 cents form a week ago to $3.896 per gallon. Compared to a year ago the price is 6.9 cents lower.

Prices fell in all parts of the country, ranging from a 0.1 cent decline in the Rocky Mountain region, for an average of $3.93 per gallon, to as much as 1.7 cents in the Gulf Coast region, for an average of $3.824 per gallon, also making it the least expensive part of the country.

The highest average price is in both the New England sub-region of the East Coast and the West Coast, registering $4.045, falling 1.1 cents and 0.9 cents per gallon, respectively.

Gasoline prices also fell, posting their third consecutive decline, shedding 7.1 cents over the past week, for an average of $3.561, 16 cents lower than the same time a year ago.

Prices decreased in all parts of the country, except in the Rocky Mountain region, where it gained 0.6 cents, for an average of $3.644 per gallon. The current price is also the only region where it is higher than it was the same time in 2012, an increase of 14.4 cents.

On Monday crude oil gained 14 cents in New York trading, settling a $106.11 per barrel.

Compared to a week ago the price is down a little more than 35 cents, despite a 2.5% increase on Friday, following five days of declines. Traders are believed to be awaiting data that’s due out later this week on how the U.S. economy is performing deciding whether to bid-up the price of the black gold.

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