Diesel Moves Lower for Sixth Straight Week to $3.843
August 11, 2014
UPDATED -- The average cost of on-highway diesel keeps moving lower, hitting its lowest level since last mid-November, according to new U.S. Energy Department figures, as oil remains not far above a six-month low.
It is down 1 cent from a week ago, marking it’s sixth straight consecutive drop, hitting $3.843 per gallon. During this time it has declined 7.7 cents since its last increase and is 5.3 cents lower than the same time a year ago.
Prices in all the different parts of the country over the past week saw their average prices decline from the week before or were unchanged. The biggest drop was in New England, where diesel fell 3.7 cents, averaging $3.982
The highest average price is in the West Coast region, $4.016, unchanged from last week, while the Gulf Coast region, as usual, has the least expensive price, $3.75, down 0.4 cent from a week ago.
Compared to a year ago all regions of the country are reporting prices are less, except for the Central Atlantic section, where it is 0.2 cent higher.
Regular grade gasoline has also fallen for the sixth consecutive week, down 1 cent from last week to $3.505 per gallon, its lowest level since early March.
Compared to the same time a year ago it is 5.6 cents less while it is down nearly 20 cents since it last increased in June.
It ranges from a high of $3.87 in the Gulf Coast states to a low of $3.271 in the Gulf Coast region.
Oil prices on Monday moved little by the close of trading in New York, increasing just 43 cents on the day. It settled at $98.08 per barrel, following a recent slide of about 8%, including it hitting a six-month low last week, despite tensions that remain in the Middle East, Libya and Ukraine. Compared to last Tuesday’s opening price crude is up 70 cents.
Updated adds gasoline prices.