Updated:
5/17/2011 8:40:00 AM
Decline Is Biggest in a Year; Gas Dips a Half-Cent to $3.96
Diesel’s national average price fell 4.3 cents to $4.061 a gallon, its third decline in four weeks and the biggest downturn in almost a year, the Department of Energy said.
Diesel has declined 6.3 cents in the past two weeks in tandem with crude oil prices, which fell from a two-and-a-half year high near $114 a barrel in late April to below $100 in the past week.
Gasoline, meanwhile, dipped half a cent to $3.96, DOE said following its weekly surveys of filling stations Monday.
The diesel decline is the biggest since a 7.3-cent drop on May 24, 2010, and trucking’s main fuel is now 96.7 cents higher than the same week last year, DOE figures showed. Gas is $1.096 higher than a year ago.
Despite its recent downturns, diesel has gained almost 90 cents at the pump since Thanksgiving, rising in 20 of the 24 weeks since late November.
Diesel’s all-time record high national average price was $4.764 per gallon, set on July 14, 2008, while gasoline’s was $4.114, set a week earlier.
Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price.
© 2010, Transport Topics Publishing Group. All rights reserved.
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