In The News

Diesel Prices Fall About a Cent in Fifth Straight Dip

Following last week's delay in diesel price reporting amid severe winter storms, the Department of Energy's Energy Information Administration said diesel prices were down for the fifth week in a row Tuesday. Diesel fell about a penny this week to a national average of $2.756 a gallon, down from last week's $2.769.

Over the last five weeks, trucking's main fuel has contracted a total of 12.3 cents. This week's price is up 57 cents from a year ago.

While diesel prices did not break $3 in any of the nation's regions, it did reach the highest in the New England and Central Atlantic regions, where it averaged $2.991 a gallon and $2.905 a gallon, respectively. The lowest averages were found in the Midwest and Gulf Coast regions, at $2.705 and $2.718 a gallon, respectively.

Gasoline took a deeper dive this week, falling 4.4 cents to a national average of $2.608 a gallon. This week's price is about 64 cents higher than the price during the same week last year.

After dropping off at the end of last week, oil prices gained 4 percent to settle above $77 a barrel at the close of Tuesday, according to reports by Reuters. The news service attributes the jump to a weak dollar, a gain in stocks and concerns about Iran's nuclear plans.

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