Summer spike or penny nail? Diesel averages $2.62

| Monday, September 21, 2009

Diesel prices have decreased for four consecutive weeks after reaching $2.67 per gallon in August. The summer spike was more of a penny nail compared to what truckers experienced a year ago.

On-highway diesel was down to $2.622 per gallon for the week ending Monday, Sept. 21, 2009, a decrease of 1.2 cents from the previous week and 5 cents since Aug. 31 according to the U.S. Energy Administration.

A 200-gallon fill-up at that price amounts to $524 – a far cry from $800 fill-ups at $4 per gallon, which truckers experienced in September 2008.

Decreases for this past week averaged a half-cent in the Rocky Mountain region to 2.1 cents in Lower Atlantic states according to the EIA.

California diesel dropped 2 cents but held the title of most-expensive at $2.827 including taxes.

The cheapest diesel by region was the Gulf Coast region at $2.542 per gallon including taxes.

Midday oil trading Monday on the New York Mercantile Exchange saw futures dip below $70 per barrel from a morning high of $72.

– By David Tanner, staff writer
david_tanner@landlinemag.com