National average price for diesel drops a dime to $4.50

| Monday, August 04, 2008

For the third straight week, the U.S. Energy Information Administration is reporting a significant decrease in the average price for a gallon of diesel, down 10.1 cents from a week ago.

This drops the national average price to $4.502 per gallon for diesel, the EIA reported on Monday, Aug. 4. The average price has dropped more than 26.2 cents per gallon in the past three weeks, although the price is still $1.60 more per gallon than it was at this time in 2007.

All nine regions are again reporting decreases in prices at the pump, with the Gulf Coast region reporting the most significant drop of 12.1 cents per gallon to an average of $4.454 for diesel.

The average price has dropped 10.1 cents per gallon to average $4.674 in the West Coast region, while the average price has decreased 10 cents in the Central Atlantic region to $4.676.

The Lower Atlantic region is reporting a drop of 9.9 cents per gallon to average $4.520, while the average price has gone down 9.8 cents to $4.584 on the East Coast.

The lowest price for diesel is being reported in the Midwest region, where fuel has dropped 9.5 cents per gallon to average $4.432. While the California region still touts the highest average price for diesel – at $4.781 – the average has dropped more than 8.8 cents per gallon there.

The average price has dropped 7.1 cents per gallon to $4.735 in the New England region. For the second week in a row, the Rocky Mountain region is reporting the smallest price decrease of all the regions. The per-gallon price there dropped 5.2 cents to average $4.608.