Diesel Prices Fall First Time in Four Weeks

Diesel Prices Fall First Time in Four Weeks

Diesel prices across the United States fell 1.2 cents in the week ending  Aug.1, ending three consecutive weeks of price increases just as poor manufacturing news pushed crude oil prices down. 

The national average price dropped to $3.937 a gallon, up $1.009 from the same period a year ago, the U.S Energy Information Administration said. The East Coast’s Lower Atlantic sub-section saw the largest decline in diesel prices, down 2.2 percent to $3.918 a gallon.

The East Coast’s New England subsection and the Rocky Mountain section saw the only increases in diesel prices, both less than a cent uptick.

The average price has fallen 1.8 cents, or 5.3 percent, since reaching its high point this year during the week of May 2 at $4.124 a gallon.

Crude oil for September delivery fell 81 cents to $94.89 per barrel by the end of trading Monday on the New York Mercantile Exchange. Prices sharply fell after a manufacturing index showed U.S. manufacturing production hit a two-year low in July.
 
-- Contact Mark Szakonyi at mszakonyi@joc.com. Follow him on Twitter @Szakonyi_JOC