Diesel Falls 6.2¢ to $3.888 for Eighth Drop in 10 Weeks; Gas Declines 7.8¢ to $3.574

Updated:
6/28/2011 8:15:00 AM

Fuels Drop as Crude Hits Four-Month Low Under $91 a Barrel

Diesel fell for the eighth week in the past ten, declining 6.2 cents to $3.888 a gallon, the Department of Energy said Monday.

Gasoline, meanwhile, fell 7.8 cents to $3.574, its seventh straight decline and the biggest drop in five weeks.

Gas has fallen 39.1 cents since hitting a more than two-and-a-half year high of $3.965 on May 9, according to DOE records.

The diesel decline â€” the biggest since a 6.4-cent drop on May 23 â€” followed a 0.4-cent dip last week, DOE said following its weekly survey of filling stations.

Truckingâ€™s main fuel is now 93.2 cents higher than the same week last year and 23.6 cents below its $4.124 price on May 2, the highest in more than two-and-a-half years.

Crude oil fell 55 cents Monday to finish New York Mercantile Exchange trading at $90.61 a barrel, the lowest level in more than four months, Bloomberg reported.

Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price.