Diesel Prices Still Heading Down

February 23, 2009

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Diesel prices continue their downward trend, with the national average retail price falling 5.6 cents this week to $2.13, according to weekly numbers from the U.S. Energy Information Administration.

That's $1.422 less than the price a year ago. The highest prices were seen in the New England region, at $2.514. The lowest prices were in the Midwest, at $2.071, followed closely by the Gulf Coast at $2.074.

Hints from OPEC that it could cut output next month had little effect on crude oil prices Monday, as New York's main futures contract fell to $38.44 per barrel on the New York Mercantile Exchange. However, this is higher than they were earlier this month; on Feb. 12, crude closed at $33.98.

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