Diesel Slides at Sharpest Rate in 15 Months

Diesel Slides at Sharpest Rate in 15 Months

The average price of diesel across the country fell 7.3 cents per gallon, the second straight weekly drop and the sharpest decline since March 2009, the U.S. Department of Energy reported Monday.

The 10.6-cent drop left the price at $3.021 per gallon, the lowest price in seven weeks. Plunging oil prices on world markets in the last two weeks could send the diesel prices down still further.

California and the West Coast in general had the highest prices. The average in California was down 7.6 cents to $3.162 per gallon. For the region, the average price fell 7.2 cents to $3.132 per gallon.

The Gulf Coast saw prices fall 6.5 cents to the nation’s lowest average price at $2.977 per gallon.

In the Midwest, prices took their biggest dive, falling 8.2 cents to $2.985 per gallon.

The Rocky Mountains saw the smallest change as diesel dropped 5 cents to $3.107 per gallon.

For more oil and diesel data, see JOC By the Numbers.

-- Contact Thomas L. Gallagher at tgallagher@joc.com.