Despite Ike, national diesel average still drops 3.6 cents to $4.023

| Monday, September 15, 2008

Although Hurricane Ike has caused the shutdown of more than 99 percent of the Gulf Coast’s oil production, the U.S. Energy Information Administration is still reporting a 3.6-cent decrease in the national average for diesel to $4.023 on Monday, Sept. 15.

This is the ninth straight week the EIA has reported that the national average has dropped, although it’s still $1.059 more per gallon than during this same time period in 2007.

All nine regions of the country are again reporting decreases at the pump. The Midwest is the first region in two months to report that fuel prices had dipped below the $4 mark – dropping 4.5 cents per gallon to $3.991 for diesel.

For the third straight week, the California region is reporting the most significant drop of 13.2 cents per gallon to average $4.053 for fuel, while the West Coast region is reporting a decrease of 10 cents to average $4.061. In the Central Atlantic region, fuel prices dropped 7.7 cents per gallon to average $4.178. While fuel costs have dropped an average of 6.6 cents in New England, the region still has the highest average of $4.246 of all nine regions.

Fuel prices have dropped an average of 6.3 cents to $4.045 in Rocky Mountain region, while the East Coast is reporting a drop of 2.9 cents per gallon to average $4.095.

The hurricane-devastated Gulf Coast region is still reporting a decrease of three-tenths of a cent to average $4.015, while the Lower Atlantic region is reporting a one-tenth of a cent decrease to average $4.036 for diesel.

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