Average prices for on-highway diesel and gasoline have each moved lower for the third straight week, according to the U.S. Energy Department.
Trucking main fuel is 1.4 cent less, registering $3.934 per gallon, its lowest level since late January. Compared to the same time a year ago it is 4.4 cents higher, while it is down 4.1 cents since its last weekly hike.
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Price declines were reported in all sections of the country, with the largest being two cents in the Central Atlantic and Midwest sections , averaging $4.136 and $3.901, respectively.
Credit: U.S. DOE
The most expensive price is New England at $4.139, down 1.8 cent from last week, while the least expensive price is found in the Gulf Coast region at $3.791, down 0.6 cent during the same time.
Meantime, the average cost of regular-grade gasoline edged down 0.3 cent from last week, $3.665 per gallon, 0.8 cent less than the same time in 2013.
Despite the overall drop, prices increased by the 1.5 cent in the Midwest region, hitting $3.611, and 0.2 cent in the Gulf Coast states, averaging $3.439, also the lest expensive part of the country, while prices in all other regions were down over the past week.
The highest regional average is the West Coast, $4.015, down 0.7 cent from last week.
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This happened as the price of crude oil gained 59 cents in New York trading on Monday, settling at $102.61 per barrel, hitting a four-week high. It extended gains from last week in the wake of stronger economic data and the upcoming start over the summer driving season along with supply concerns. Compared to a week ago the black gold is up around $2 per barrel.
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