Diesel average drops 2.5 cents

Diesel average drops 2.5 cents

After two consecutive increases, the price of a gallon of diesel dipped last week.

The average U.S. retail pump price for diesel was down 2.5 cents in the Oct. 19 report by the Energy Information Administration (EIA), to $2.531 per gallon. The price is about $1.13 per gallon cheaper than this time last year.

The Rocky Mountain region posted the only regional increase, up 1.5 cents to $2.523,

The largest decrease was 4.2 cents in the Lower Atlantic ($2.427), while in New England diesel was down 1.6 cents, bringing the price of gallon to $2.562. The Central Atlantic region saw the price fall 1.9 cents to $2.642.

In the Midwest the cost fell 3.4 cents to $2.60 after an increase of 14.5 cents the week before on refinery capacity issues and seasonal agricultural demand.

On the West Coast, not including California, diesel was down 2.7 cents to $2.576. In California, which has the highest price in the contiguous 48 states at $2.808 per gallon, the price slipped 2.5 cents.

The Gulf Coast reported a 1.4 cent drop to $2.325, the lowest price for a gallon in the nation. 

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