The national average price-per-gallon
for diesel fuel fell Monday, Dec. 6, to $2.069 from last week’s average
of $2.116, the Department of Energy reported.
The highest average prices in the nation are found in the
New England region, where the average cost is $2.234.
Among the higher average prices were in California, at
$2.225; the West Coast region, at $2.181; and the Central Atlantic region, at
Other prices included the East Coast region, where the
average price is $2.111; the Lower Atlantic region, at $2.053; the Rocky
Mountain region, at $2.124; the Midwest region, at $2.033; and the Gulf Coast
region, at $1.995.
Meanwhile, crude oil prices climbed back above $43 a barrel
Monday on fears that OPEC may cut production to stem a recent price drop.
After sliding more than $6 a barrel last week, as government
data showed increasing U.S. supplies of crude and heating oil, light sweet
crude for delivery in January rose 53 cents to $43.12 in afternoon trading on
the New York Mercantile Exchange.
Analysts said the markets are bracing for a possible
production cut when OPEC, the cartel that has been pumping out crude at a
record 30 million barrels daily since September, meets in Cairo, Egypt, on
Friday, Dec. 10.
“We have a huge amount of oil in the market and on the sea,”
Iran’s Oil Minister Bijan Namdar Zanganeh told Dow Jones Newswires on
Monday. “OPEC really should be worried if it keeps on overproducing.”
Oil prices are down about $12 a barrel from their late October
highs, though prices remain roughly 40 percent higher than a year ago.