Fuel average dips 3 cents to $3.721

| Tuesday, October 11, 2011

The national average price of on-highway diesel decreased nearly 3 cents to $3.721 per gallon for the week ending Monday, Oct. 10. The U.S. Energy Information Administration reported the prices on Tuesday following the observance of Columbus Day.

California, which has more or less averaged above $4 per gallon since March with the exception of a brief dip in August, dropped to $3.977 for the week according to the EIA.

The largest drop in average price, however, belonged to the Gulf Coast region, as diesel dropped 4.2 cents to $3.651.

Following are the regional averages for the week as posted by the EIA:

U.S. – $3.721, down 2.3 cents
East Coast – $3.741, down 2.4 cents
New England – $3.912, down 2.9 cents
Central Atlantic – $3.860, down 2.1 cents
Lower Atlantic – $3.674, down 2.5 cents
Midwest – $3.671, down 2.8 cents
Gulf Coast – $3.651, down 4.2 cents
Rocky Mountain – $3.828, down 1.8 cents
West Coast – $3.910, down 1.7 cents
California – $3.977, down 3.0 cents

ProMiles reported the national average at $3.76 per gallon on Monday, down nearly 3 cents in the past seven days.

Washington state had the highest average by state at $4.099 per gallon, followed by Rhode Island at $4.089. The lowest average by state on Monday was Virginia at $3.542 per gallon.

Meanwhile, oil prices have rebounded from last week and are on the rise. Futures for light sweet crude were trading at $86.35 a barrel at midday Tuesday in New York, up approximately $8 in the past week.

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