In The News

Diesel Takes First Dip in Four Weeks

Diesel broke its four-week rise, falling 0.7 cents to $2.801 Monday, landing at the same price as Oct. 26, according to the Department of Energy. Since Oct. 5, trucking's main fuel had slipped 22.6 cents, reaching its highest level in almost a year.

This week's average is a close 14.3 cents below the price during the same week last year, when it was at $2.944.

California saw the highest prices of diesel this week, with an average of $2.972, followed by the Central Atlantic and West Coast regions, at $2.926 and $2.909, respectively. In contrast, the Gulf Coast and Lower Atlantic regions saw the lowest averages, at $2.746 and $2.772, respectively.

Gasoline did not continue its upward trend this week, falling 2.8 cents to a national average of $2.666. The price is 44.2 cents higher than the same week last year.

Crude oil gained 3 percent Monday, landing at $79.73 a barrel on the New York Mercantile Exchange, according to the Wall Street Journal. The publication attributes the gain to dollar weakness, a strong equity market, and the closing of offshore U.S. oil production as a result of Tropical Storm Ida.

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