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Diesel Falls Second Week in a Row

July 6, 2009

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The average price of diesel fell 1.4 cents last week, the second consecutive weekly drop
, according to the Department of Energy.

Diesel averaged $2.594 for truckers nationwide this week, down from $2.608 last week, when the price went down for the first time since April. This is $2.133 below the fuel's average price during the same week last year. Prior to last week, diesel had climbed 43.1 cents from May 4 through June 22.

The highest prices were experienced in the Central Atlantic and West Coast regions, at $2.714 and $2.706, respectively. During the week, diesel dipped down to its lowest average of $2.547 and $2.56 in the Gulf Coast and Lower Atlantic, respectively.

Meanwhile, the price of crude oil was down $2.68 Monday, or about 4 percent from Thursday's close, after doubts over a potential economic rebound caused investors to be risk averse, according to Reuters. It settled at $64.05 a barrel Monday.

National gasoline prices were also down 3 cents a gallon this week, following the Fourth of July weekend. Gasoline landed at $2.612, down from last week's average of $2.642.

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