Diesel Prices Continue to Decline

July 20, 2009

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The average price of diesel dropped another 4.6 cents in the last week, the fourth consecutive weekly decline
, according to the Department of Energy. Since reaching a high so for this year of $2.616 on June 22, diesel has fallen 12 cents.

Around the U.S., diesel averaged $2.496 Monday, down from last week's $2.542. This is still $2.222 below the same week last year, when prices hit $4.718. Prior to the declines, diesel had climbed 43.1 cents from May 4 through June 22.

The Central Atlantic and New England regions experienced the highest diesel prices this week, hitting $2.63 and $2.60, respectively. Meanwhile, the Gulf Coast and Lower Atlantic saw the lowest prices, with $2.443 and $2.456, respectively.

Crude oil prices landed near $64 a barrel, with news of hopeful quarterly reports coupled with a weak outlook on energy demand, according to the AP. Benchmark crude for August delivery was $63.98, a 42 cent increase.

Gasoline dropped again this week to an average of $2.463, a decrease of 6.5 cents nationally. Last week, gas had fallen 8.4 cents to $2.528. The fuel has been down for the past month.

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