Diesel prices drop more than 7 cents in a week

| 1/17/2007

As the price of crude oil continues to decline to near $50 a barrel, diesel prices are also coming down.

The national average price for a gallon of diesel fell 7.4 cents for the week ending Monday, Jan. 15, 2007. Because of Martin Luther King Jr. Day, the U.S. Energy Information Administration posted the weekly averages on Tuesday.

Diesel in the Lower Atlantic region - one of nine regions that report to the EIA - fell 9 cents from $2.458 to $2.368 per gallon, which was the cheapest average price in the nation.

All nine regions reported a decrease.

The East Coast region posted a decrease of 8.3 cents from $2.520 to $2.437 per gallon.

The Central Atlantic region reported a price of $2.559, down 7.4 cents from the previous week's average of $2.633.

New England reported a half-cent drop from $2.672 to $2.622.

Diesel prices in the West Coast region fell 7.5 cents to $2.749 from the previous week's price of $2.824, while California prices dropped 8.3 cents from $2.856 to $2.773.

The Gulf Coast region reported an average of $2.391 per gallon, down 6.8 cents from $2.459.

Diesel prices in the Midwest declined by 7.5 cents from $2.483 to $2.408, while the Rocky Mountain region reported a 5.7-cent decrease from $2.682 to $2.625.