Diesel, Oil Prices Drop

January 26, 2009

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The national average price of a gallon of diesel and the price of a barrel of oil traded on the futures market both showed declines Monday.

Diesel averaged $2.268 per gallon, according to weekly figures from the U.S. Energy Information Administration, down almost 3 cents from last week's figures and nearly $1 less than a year ago. The lowest prices were in the Gulf Coast region at $2.202; the highest in the New England region at $2.595.

Meanwhile, crude oil futures dropped below $46. Light, sweet crude for March delivery fell 74 cents to settle at $45.73 on the New York Mercantile Exchange Monday. Trading was volatile, with prices hitting a low of $45.25 and as high as $48.59 during the day.

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