Diesel Prices Show Slight Increase

August 31, 2009

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The average price of diesel showed little change from last week, increasing 0.6 cents to $2.674
, according to the Department of Energy. The price is still the highest it has been since November, when it reached $2.809.

Diesel prices have been on the rise for six straight weeks, gaining 17.8 cents since July 20. Prior to that, the average price had fallen 12 cents from June 22. This week's average is still $1.447 below the price during the same week last year, when it was $4.12.

The state of California saw the highest prices this week, reaching $2.893, followed by the West Coast and Central Atlantic regions, at $2.802 and $2.779, respectively. Meanwhile, the Gulf Coast saw prices as low as $2.618. In the Lower Atlantic and Midwest regions, prices averaged $2.649.

Meanwhile, benchmark crude for October delivery fell $2.78 to $69.96 on the New York Mercantile Exchange, according to the Associated Press. Oil has not ended a trading day below $70 in about two weeks. The news service attributes the decline to concerns surrounding the drop in China's stock market.

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