Diesel and gasoline prices tumble

The national averages for a gallon of diesel and gasoline both fell drastically this week – with diesel dropping 8.3 cents and gasoline declining 6.9 cents, the Dept. of Energy said yesterday. According to the department’s Energy Information Administration (EIA), the average retail price at the pump for gasoline is $1.416, while diesel stands at $1.39. According to EIA spokesman Jonathan Cogan, the

The national averages for a gallon of diesel and gasoline both fell drastically this week – with diesel dropping 8.3 cents and gasoline declining 6.9 cents, the Dept. of Energy said yesterday.

According to the department’s Energy Information Administration (EIA), the average retail price at the pump for gasoline is $1.416, while diesel stands at $1.39. According to EIA spokesman Jonathan Cogan, the drop in the diesel price is the largest since the agency began tracking the weekly price in March 1994.

The price for a gallon of diesel is at its lowest since August 13, when it was $1.367. It peaked at $1.527 a week after the recent terrorist attacks on the United States.

The diesel price in the Midwest Region fell 10.3 cents, and 9.4 cents in California. It fell 9.5 cents on the West Coast.

For gasoline, the biggest week-to-week drop came in the Midwest Region, where it fell 12.8 cents to $1.403. In the Gulf Coast, the price went down 5.1 cents.

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