JOC Staff | Dec 28, 2011 4:10PM EST
Diesel prices across the United States fell for the fifth straight week in the week ending Dec. 26, falling 3.7 cents on average to the lowest price in more than two months, according to the U.S. Energy Information Administration.
The average $3.791 per gallon price left the price down 5.5 percent over the past month, since a sharp upturn ended a season of relative stability and sent prices soaring 28 cents a gallon in just a month.
The decline was the steepest in the Midwest, where prices fell 5.2 cents per gallon to a U.S. low of $3.71 a gallon.
But prices fell barely a penny a gallon in California, where diesel still cost $4.039 a gallon on average.
The prices may fall even further in coming weeks after crude oil prices fell below $100 a barrel this week. Still, the price for crude on world markets has been close to the $102 per barrel the EIA expects for average crude prices in 2012.