Diesel declines for eighth straight week

| 12/23/2009

The national average price for on-highway diesel fuel has been on the decline for eight straight weeks, dropping 2.2 cents to $2.726 for the week ending Monday, Dec. 21.

The U.S. Energy Information Administration reported that even with the steady decreases since early November, the national average is still 36 cents higher than it was a year ago.

A 200-gallon purchase at the EIA average price was $545.20 on Wednesday, Dec. 23. A year ago, that same 200-gallon purchase was $473.20.

The EIA reported that decreases for this week averaged 1.2 cents in the Midwest to as much as 4.3 cents in the Rocky Mountain region.

East Coast diesel averaged $2.740 per gallon, down 2.9 cents, while California diesel was $2.891 per gallon following a 2.4-cent decrease.

According to ProMiles, the national average on Wednesday was $2.738 including taxes, down three-tenths of a cent from $2.74.1. At the ProMiles rate, a 200-gallon purchase cost $547.60 on Wednesday.

Oil futures for February 2010 light sweet crude were trading at $76.57 per barrel as of midday on Wednesday according to the New York Mercantile Exchange. That price was up about $2 from the start of the day.

– By David Tanner, staff writer