The average price of diesel fuel fell below $4 per gallon nationally for the first time since January, according to data from the U.S. Energy Dept. The national average is listed as $3.993.
For the fifth consecutive week diesel prices have dropped, after hitting a five-year high of $4.159 per gallon on Feb. 25. The current national average is about 15 cents lower than the average price in March of 2012.
The U.S. Energy Information Administration reported decreases in 8 of 10 regions of the country. A 5.3-cent increase in diesel in California also raised the average price for the entire West Coast region despite the fact that diesel prices dropped on average 3 cents per gallon in the rest of the West Coast.
Following are the weekly average prices for on-highway diesel as reported by the EIA:
U.S. – $3.993, down 1.3 cents
East Coast – $4.025, down 2.5 cents
New England – $4.148, down 2.3 cents
Central Atlantic – $4.083, down 2.6 cents
Lower Atlantic – $3.958, down 2.5 cents
Midwest – $3.970, down 0.9 cents
Gulf Coast – $3.915, down 2 cents
Rocky Mountain – $3.922, down 1.3 cents
West Coast – $4.116, up 1.5 cents
California – $4.20, up 5.3 cents
West Coast less California – $4.016, down 3 cents
ProMiles, which surveys 9,400 fuel stops, reported the daily nationally average is at $3.98 cents on Monday, April 1.
Drivers in New York state are paying an average price of $4.246 per gallon, according to ProMiles. Oregon drivers are paying the lowest prices at $3.746 per gallon.
In other energy news, the price of light sweet crude oil closed at $96.90 per barrel during midday trading Monday according to the New York Mercantile Exchange after opening at $97.07. Light sweet crude is the type most commonly associated with diesel production.
In Europe, the price of Brent crude was listed at $110.93, according to Bloomberg.
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