After gaining 15.3 cents in three straight weeks, diesel prices dropped 0.9 cents this week, landing at a national average of $2.87 a gallon
, according to the U.S. Department of Energy.
On Dec. 28, diesel saw its first boost in eight weeks, falling a total of 8.2 cents prior to that. This week's average is about 57.4 cents higher than the average during the same week last year, when it was at $2.296.
The New England and Central Atlantic regions experienced the highest prices this week, at $3.065 and $3.023, respectively. The lowest prices were found in the Rocky Mountain and Gulf Coast regions, at $2.827 and $2.831, respectively.
Gasoline prices across the nation also saw a decline this week, down 1.2 cents to $2.739 a gallon. This was about 89 cents higher than the same week last year, when prices averaged $1.849.
Meanwhile, the Organization of the Petroleum Exporting Countries left its predictions for world crude oil demand unchanged, according to the Associated Press. While the economy is starting to show some positive signs of growth, OPEC believes the oil market is too volatile at this point to predict a change in demand.
OPEC expects oil demand to rise by 800,000 barrels a day to 85.15 million per day, the AP reports.
As the stock market rose Tuesday, so did oil prices. The market closed with oil up $1.02 to $79.02 on the New York Mercantile Exchange, the AP said.
