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Diesel Sees Third Consecutive Fall

September 21, 2009

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The average price of diesel fell 1.2 cents to $2.622 this week, the third consecutive weekly decline
, according to the Department of Energy. Since the end of August, diesel prices have slipped 5.2 cents.

Prior to the declines, diesel had gained 17.8 cents since July 20. This week's average is still $1.336 below the price during the same week last year, when it was $3.958.

California lead the pack with the highest average price of $2.827, followed by the West Coast and Central Atlantic regions, at $2.783 and $2.738, respectively. The lowest prices were found in the Gulf Coast and Lower Atlantic regions, where prices averaged $2.542 and $2.578, respectively.

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Meanwhile, nationwide gasoline declined 2.5 cents this week, landing at $2.552. This marks the sixth week in a row the fuel has dropped, slipping 9.5 cents in the last month or so. It is still $1.166 below the price during the same week last year.

Crude oil ended the day down 3.2 percent Monday, on news of weak fuel demand, according to Reuters. It landed at $69.71 a barrel on the New York Mercantile Exchange, the news service reported.

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