Diesel price drops 1.2 cents to $2.485

Diesel price drops 1.2 cents to $2.485

Diesel prices have declined for the third consecutive week, falling to within a penny of the six-year low set in late September.

The average U.S. retail pump price for diesel was down 1.3 cents in the Nov. 2 report by the Energy Information Administration (EIA), to $2.485 per gallon. The price is about $1.14 per gallon cheaper than this time last year.

California posted the only regional increase, but the price there was up only a 4/10ths of cent to $2.817, still the highest price in the contiguous 48 states. Otherwise on the West Coast diesel was down 1.8 cents to $2.549.

The largest decrease was in the Midwest where the cost fell 2.4 cents to $2.516 as the region recovers from of 14.5-cent surge three weeks ago based on refinery capacity issues and seasonal agricultural demand.

The Central Atlantic region saw the price fall 1.6 cents to $2.604, while the Lower Atlantic broke even at $2.396. In New England diesel was down 0.7 cents, bringing the price of gallon to $2.546

The Rocky mountain region saw a 1.1 cent decline to $2.497, and the Gulf Coast reported a 0.9 cent drop to $2.29, the lowest price for a gallon of diesel in the nation. 

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