Skip to content

Diesel Drops 6.4¢ to Below $4 a Gallon; Gasoline Falls 11.1¢ to $3.849

Click Here!

5/24/2011 11:30:00 AM

Diesel Decline Is Biggest in a Year; Crude Continues to Fall

Diesel took its biggest drop in a year, declining 6.4 cents to $3.997 a gallon, while gasoline dropped by more than a dime, the Department of Energy said.

Trucking’s main fuel has fallen in four of the past five weeks and is 12.7 cents below the $4.124 per-gallon price of three weeks ago, which had been the highest since August 2008.

Gasoline, meanwhile, fell 11.1 cents to $3.849, its second straight decline, leaving gas at its lowest level in five weeks, DOE said following its weekly surveys of filling stations.

The diesel downturn is the biggest since a 7.3-cent drop on May 24, 2010, and it is now 97.6 cents higher than the same week a year ago, while gas is $1.063 higher year-over-year.

Monday’s diesel price is the first in seven weeks below $4 a gallon. Its all-time high was $4.764 per gallon, set on July 14, 2008, while gasoline’s was $4.114, set a week earlier.

The prices have fallen along with dropping oil prices, which have declined from a more than two-and-a-half-year high $113.93 per-barrel on April 29 to below $98 Monday.

Crude futures fell $2.40 on the New York Mercantile Exchange Monday to finish the trading day at $97.70 a barrel, Bloomberg reported.

Each week, DOE surveys about 350 diesel filling stations to compile a national snapshot average price.

Click Here!

© 2010, Transport Topics Publishing Group. All rights reserved.


Diesel Drops 6.4¢ to Below $4 a Gallon; Gasoline Falls 11.1¢ to $3.849 (5/24/2011 11:30:00 AM)
UPS Using Biodiesel at Worldport Facility (5/24/2011 9:40:00 AM)
Freight Results Still Mixed, Executive Says (5/24/2011 3:00:00 AM)
Gasoline Drops 9¢ to $3.91 a Gallon, Lundberg Says (5/23/2011 8:30:00 AM)
Diesel Fuel Price Declines 4.3¢ to $4.061 (5/23/2011 1:15:00 AM)
Opinion: Domestic Energy Production Besieged (5/20/2011 8:00:00 AM)

Click Here!

I agree to have my personal information transfered to MailChimp ( more information )
Join over 3.000 visitors who are receiving our newsletter and learn how to optimize your blog for search engines, find free traffic, and monetize your website.
We hate spam. Your email address will not be sold or shared with anyone else.
Tax, Accounting, Consulting - Emil Estafanous, CPA, CFF, CGMA