The average price of a gallon of on-highway diesel fuel was down for the fifth week in a row according to the latest numbers from the U.S. Energy Department.
The national average price dropped by 1.6 cents last week to settle at $2.843 per gallon. Compared with this week last year, the price of a gallon of diesel is down $1.077.
Prices were down in all regions with the largest decrease coming to the West Coast with a drop of 2.9 cents to a per gallon price of $3.068. The smallest drop came to the Lower Atlantic region with a barely register-able 0.1-cent decrease to a price of $2.823 per gallon.
Gasoline was also slightly down for the week – decreasing 1.1 cents to an average per-gallon price of $2.801. This is the second week of price decreases for gasoline coming after an 8-week streak of increases.
Gasoline saw its biggest drop in the Gulf Coast region with a 3.2-cent decreases and an average per gallon price of $2.542. Despite the average drop in prices, a few areas saw increases with the Central Atlantic region jumping 1.7 cents to $2.803 per gallon.
The price of a barrel of crude oil fell in both the New York Mercantile Exchange and Brent crude due to unease caused by the financial crisis in Greece, according to MarketWatch. While Greece isn’t a major player in the oil market, the crisis has had a negative effect on many markets.