Mark Szakonyi, Associate Editor | May 21, 2012 5:22PM EDT
Diesel prices across the U.S. dropped below the $4 gallon mark, declining 4.8 cents in the week ending May 21 as oil prices rose more than $1.
The average price of $3.956 is down 4.1 cents year-over-year, after falling for the fifth straight week, according to the U.S. Energy Information Administration. Prices are up 17.3 cents, or 4.6 percent, from the beginning of the year. The last time prices fell below $4 was in the week ending Feb. 20.
Prices fell in all regions, with the New England and Central Atlantic regions, along with the West Coast and California, being the only areas not to see diesel under $4 a gallon. The New England region saw the sharpest decrease, with prices declining 6.2 cents to $4.130.
Crude oil for June delivery fell $1.09 to $92.57 a barrel on the New York Mercantile Exchange. Prices rose on a U.S. stock market surge and a statement from the Group of 8 that it wants Greece to stay in the eurozone.
Contact Mark Szakonyi at mszakonyi@joc.com. Follow him on Twitter @szakonyi_joc.