Diesel Down For Second Week in a Row

September 14, 2009

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Diesel prices are down for the second week in a row, slipping 1.3 cents this week
, according to the Department of Energy. The national average for diesel settled at $2.634 Monday, after dropping 2.7 cents last week.

Prior to the declines, diesel had gained 17.8 cents since July 20. This week's average is still $1.389 below the price during the same week last year, when it was $4.023.

Even though California saw diesel prices fall 1.9 cents from last week, the state still experienced the highest prices in the nation, at $2.847. This was followed by the West Coast, at $2.795, and Central Atlantic region, at $2.755. The Gulf Coast averaged the lowest price of $2.555, followed by the Lower Atlantic region, at $2.599.

Meanwhile, gasoline fell for the fifth week in a row, losing 1.1 cent. Landing at a national average of $2.577, gasoline has dropped 7 cents in the last month. It is still $1.258 below the price during the same week last year.

On the New York Mercantile Exchange, crude oil ended low on Monday, down 43 cents to $68.86 a barrel, according to Reuters. Prices were depressed by oil demand worries caused by high levels of inventories in the U.S., Reuters reported.

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