Weekly nationwide average price of diesel drops for eighth straight week

| Tuesday, September 09, 2008

Positive news from U.S. Energy Information Administration: the national average for diesel dropped another 6.2 cents to $4.059 per gallon on Monday, Sept. 8.

This is the eighth straight week the EIA has reported that the national diesel average has dropped, although it’s still $1.135 more per gallon than during this same time period in 2007.

All nine regions of the country are reporting decreases at the pump, with California once again reporting the most significant drop – 9.7 cents per gallon – to average $4.185 for fuel.

The West Coast region is reporting a dip of 9.4 cents per gallon to average $4.161, while the price has dropped 8.1 cents to average $4.108 in the Rocky Mountain region. The Lower Atlantic is reporting a decrease of 7 cents per gallon to average $4.037, while fuel costs have dropped 6.5 cents per gallon to average $4.124 on the East Coast.

In the Central Atlantic region, fuel prices have decreased by 6 cents per gallon to average $4.255. Fuel prices have dropped an average of 4.7 cents per gallon to average $4.312, which is still the highest reported price of all regional averages.

Despite Hurricane Gustav, which hit the Gulf Coast area last week, shutting 100 percent of the oil traffic down for a while in the region, the Gulf Coast still is reporting a drop of 5.2 cents per gallon to average $4.018. This is the lowest regional price average of all the regions.

The Midwest region experienced the smallest price decrease of 4.6 per gallon to average $4.036 for diesel.

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