In The News
'Stop the Press!" Diesel falls below $2 for first time in 11 years
WASHINGTON — As the newspaper editor of long ago used to say when there was a breaking news story after final edition had been put to bed and the ink was being laid on the newsprint: "Stop the Press."
So it is Tuesday.
"Stop the Press!"
The on-highway price of a gallon of diesel has fallen below $2 for the first time in exactly 11 years.
The Energy Information Administration of the Department of Energy reported Tuesday that the average price was $1.98 a gallon for the week ending February 15, a drop of 2.8 cents from the previous week and 88.5 cents lower than one year ago.
The information was reported a day late because federal offices were closed Monday for Presidents Day.
The last time the average price was below $2 when it was $1.986 for the week ending February 14, 2005.
A big difference in now and then, however, is the fact that in February 2005 the price was escalating, and today, it continues to de-escalate.
The Gulf Coast states posted the lowest regional average at $1.858 followed closely by the Rocky Mountain states at $1.866.
California had the highest average at $2.316.
Tuesday, benchmark U.S. crude lost 38 cents, or 1.3 percent, to $29.05 a barrel in New York. It jumped 12 percent Friday, its biggest gain in years.
The Trucker staff can be reached to comment on this article at [email protected].