Diesel prices average $4.70 nationwide

| 6/2/2008

The national average price for a gallon of on-highway diesel was $4.707 for the week ending Monday, June 2, down 1.6 cents from the previous week according to the U.S. Energy Information Administration.

The average price for the week was $1.908 higher per gallon than the average a year ago.

California ultra-low sulfur diesel averaged the highest by region at $5.027 per gallon, unchanged from the previous week.

The biggest change was a decrease of 2.7 cents in the Lower Atlantic region, where ULSD averaged $4.692 per gallon.

ULSD prices in the East Coast region averaged $4.772, down 1.9 cents from its previous weekly average.

The Central Atlantic region averaged $4.911 after a decrease of one-half a cent, while the New England region averaged a slight increase of three-tenths of a cent to $4.846.

ULSD in the Midwest region averaged $4.653, down 2.4 cents from $4.677, the EIA reported.

The per-gallon average in the Gulf Coast region averaged $4.666, down one cent from $4.676.

The average for ULSD in the West Coast region was $4.884, down one cent from the previous week’s average of $4.894.

The average price did not decrease in the Rocky Mountain region, where the average increased 2.7 cents from $4.659 to $4.686 per gallon.

Early afternoon reporting on the New York Mercantile Exchange showed the price of a barrel of oil trading at $127.76 for July futures. That price was an increase of 41 cents per barrel from Friday, May 30, when trading for July futures closed at $127.35.