Diesel drops nearly 4 cents, lowest prices this year

Diesel drops nearly 4 cents, lowest prices this year

After falling during five of the six weeks since a mid-October spike, diesel prices are at the lowest this point year, slipping to a level last reported in June 2009.

The average U.S. retail pump price for diesel was down 3.7 cents in the Nov. 23 report by the Energy Information Administration (EIA), to $2.482 per gallon. The price is about $1.18 per gallon cheaper than this time last year.

Prices were down in every region of the country, paced by the Midwest region where diesel fell 5.3 cents to 2.441.

On the West Coast, not including California, a gallon dropped 4.7 cents to $2.555. In California, the cost was down 3.6 cents to $2.733, still the highest price in the contiguous 48 states.

The Lower Atlantic region saw the price fall 3.6 cents to $2.37, while the Central Atlantic reported a 2.4 cent decline to $2.585. In New England diesel was down 2 cents, bringing the price of gallon to $2.524.

In the Midwest a the price of a gallon of diesel fell 3.2 cents to $2.494, and the Rocky Mountain region saw a 1.4 cent decline$2.474.

The Gulf Coast reported a 2.4 cent drop to $2.228, the lowest price for a gallon of diesel in the nation. 

TAGS: News Business
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