national average U.S. retail price of diesel fuel has declined from the
previous average of $1.874 to $1.871, the Department of Energy reported Monday,
highest average prices in the nation continue to be found in California, at
$2.148 a gallon. For the West Coast region, the price is $2.051. The lowest
prices are in the Lower Atlantic region at $1.815, and in the Gulf Coast
region, where the price is $1.824.
prices included the East Coast region, where the average price is $1.858; the
New England region, at $1.956; the Central Atlantic region, at $1.937; the
Midwest region, at $1.844; and the Rocky Mountain region, at $1.915.
Meanwhile, U.S. oil prices fell more than $1 on Monday, Aug.
30, as the Organization of the Petroleum Exporting Countries eyed increases in
the coming months to loosen tight international supply.
U.S. light crude fell to $41.30 a barrel – more than $8
below a record price set earlier this month, and the lowest price in more than
a month – Reuters news service reported. After hitting the day’s low, light
crude bounced back to $41.93 by midday, down $1.25.
Despite the recent slide, prices are still about a third
higher than at the first of the year and oil exporting countries are pumping
near capacity to match soaring demand.
OPEC President Purnomo Yusgiantoro said the group wanted to
increase its members’ spare output capacity by about 1 million barrels per day
in the next few months to bring down soaring prices.
The cartel is estimated to be pumping close to 30 million
barrels per day, its highest level since 1979, in an effort to dampen this
year’s seemingly relentless price climb.