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Diesel Average Falls 4.9 Cents to $2.546Diesel fuel’s average national price fell 4.9 cents to $2.310 a gallon, the Department of Energy reported Monday.
The average national price of gasoline fell 6.8 cents to $2.310 a gallon, 61.8 cents lower than a year ago, DOE said.
Diesel’s seventh-straight weekly decline, follows a 11.8-cent drop last week. Prices are 59.8 cents lower than a year ago.
Diesel’s average fell in all five national regions. In California, which DOE breaks out separately, the nation’s main trucking fuel fell 7.5 cents to $2.835.
Meanwhile, crude oil futures fell below $62 a barrel as traders speculated that production cuts on the part of Venezuela and Nigeria will not significantly impact prices, Bloomberg reported.
The two nations, both members of the Organization of Petroleum Exporting Countries, will reduce their output by a combined 170,000 barrels a day, Bloomberg said.
Crude oil fell $1.88 on Monday to close at $61.03 a barrel on the New York Mercantile Exchange, Bloomberg reported.
Each week, DOE surveys 350 diesel filling stations to compile a national snapshot average price.
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