Diesel prices drop 5 cents to $3.326 per gallon

| 1/14/2008

The national average price for a gallon of on-highway diesel decreased 5 cents to $3.326 for the week ending Monday, Jan. 14, 2008.

After three weeks of increases since Dec. 24, 2007, the price eased for ultra-low sulfur diesel and remaining low-sulfur diesel supplies.

Nationally, ULSD averaged $3.341 per gallon, down 4.6 cents, while low-sulfur diesel decreased 7.2 cents to average $3.229.

Regional prices for ULSD told much of the same story, with the largest decrease coming in California.

ULSD in California decreased 6.7 cents to $3.459 per gallon while the West Coast region averaged $3.431 after a decrease of 5.3 cents.

In the New England region, ULSD averaged $3.621 – the highest regional average in the country – after decreasing 2.3 cents.

The East Coast region averaged $3.420 for ULSD, down 3.8 cents.

Average prices decreased 4.3 cents in the Central Atlantic region from $3.560 to $3.517 per gallon for ULSD, while the Lower Atlantic region had an average of $3.339 after a decrease of 3.8 cents.

The Midwest region averaged $3.309 per gallon for ULSD, down 5.2 cents.

ULSD in the Rocky Mountain region decreased 1.5 cents from $3.281 to $3.266.

The Gulf Coast region had the lowest regional average at $3.271, down 5.1 cents from the previous week.

According to the New York Mercantile Exchange on Monday, light sweet crude oil on the February futures market was trading between $93.40 and $94.43, up about $1.15 per barrel from prices posted Friday, Jan. 11.
– By David Tanner, staff writer