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Diesel Falls From 2-Year High, Dropping 1.3¢ to $3.171 a Gallon

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11/23/2010 8:10:00 AM

Gas Declines 1.6¢ to $2.876

Diesel fell from a two-year high Monday, dipping 1.3 cents to $3.171 a gallon in the wake of lower oil prices, the Department of Energy said Monday.

Gasoline also slipped 1.6 cents to $2.876 a gallon, not far below its 2010 high of $2.905, posted May 10.

Diesel’s decline followed last week’s 6.8-cent jump that had been the highest in more than six months. Last week’s $3.184 average price was the highest since October 2008. (Click here for previous story.)

Monday’s price left trucking’s main fuel 38.4 cents over the same week a year ago, while gas is 23.7 cents more expensive, DOE said following its weekly survey of filling stations.

Oil fell more than $6 from Nov. 10 through Friday, when crude futures closed at $81.51 a barrel on the New York Mercantile Exchange. Crude held under $82 a barrel on the Nymex Monday, Bloomberg reported.

Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price.

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© 2010, Transport Topics Publishing Group. All rights reserved.


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Diesel Falls From 2-Year High, Dropping 1.3¢ to $3.171 a Gallon (11/23/2010 8:10:00 AM)
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Emil Estafanous, CPA, CFF, CGMA