In The News

Diesel's Down a Penny After Three Straight Increases

The national average price of diesel slipped about a penny this week, following three consecutive increases, according to weekly figures released by the U.S. Energy Information Administration.

Diesel prices averaged $2.979 a gallon this week, after jumping to its highest average since May last week. Over the previous three weeks, diesel climbed a total of 9.2 cents. This week's average is 32.7 cents higher than the same week last year.

The West Coast and Central Atlantic regions had the highest prices this week, averaging $3.129 and $3.055 a gallon, respectively. The Gulf Coast and Lower Atlantic posted the lowest figures, at $2.933 and $2.94 a gallon, respectively.

Gasoline prices were down 3.8 cents this week to an average of $2.745 a gallon, as crude oil prices slipped 15 cents to $75.24 a barrel on the New York Mercantile Exchange, according to reports by the Associated Press.

The news service attributes the lower fuel and oil prices to recent economic data, including the New York's Empire State Manufacturing Index, which did not rise as much as expected. Economic indicators coming out of Japan and China were also disappointing, with slower growth in those regions. The U.S. stock market also experienced slight losses Monday, the AP said.

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