Diesel drops 4 cents to $3.897

| 8/8/2011

The U.S. Energy Information Administration is reporting that diesel prices have dipped 4 cents from a week ago to average $3.897 per gallon on Monday, Aug. 8. This is the second straight week that the national average price for diesel has dropped.

Diesel prices are still averaging 90.6 cents per gallon higher than a year ago, when it was selling for around $2.991 per gallon, according to the EIA.

This past week, diesel prices have dropped in all nine regions of the country. The EIA is reporting that prices are the lowest in the Rocky Mountain region at $3.851 per gallon, down four-tenths of a gallon from the previous week. While fuel prices are still the highest in California, the region is reporting the highest decline of all the regional averages, down 6.9 cents per gallon to average $4.067.

Here are the EIA’s averages for the week:

U.S. – $3.897, down 4 cents
East Coast – $3.936, down 3.8 cents
New England – $4.031, down 1.4 cents 
Central Atlantic – $4.053, down 3.7 cents
Lower Atlantic – $3.877, down 4.1 cents
Midwest – $3.875, down 4.3 cents
Gulf Coast – $3.868, down 3.6 cents
Rocky Mountain – $3.851, down four-tenths of a cent
West Coast – $3.949, down 5.1 cents
California – $4.067, down 6.9 cents

In oil news, crude was trading at just over $83.78 a barrel at midday Monday on the New York Mercantile Exchange.