Diesel Prices Stable This Week

September 29, 2008

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Retail diesel prices remain virtually unchanged, according to a weekly report from the U.S. Energy Information Administration.

The EIA's weekly average as of Sept. 29 was $3.959, up a tenth of a cent from last week's numbers. That's 91.1 cents higher than the average price a year ago.

The biggest change was in the New England region, where the average price fell 3.3 cents per gallon to $4.077, but prices in that region still remained the highest in the country.

The lowest average price was reported in the Gulf Coast region at $3.929, which actually was up half a cent from the previous week.

Meanwhile, crude oil prices tumbled on the New York Mercantile Exchange to $96.37 per barrel, with investors fearing that a worsening economy would slash energy demand. Stocks in general plummeted on news that the U.S. House of Representatives rejected a controversial government bailout for the financial sector, worsening fears about the economy.

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