Diesel prices drop four cents

The average diesel price in the U.S. decreased four cents to $2.05 per gallon for the week of March 9th, according the Energy Information Administration (EIA). The average price is down nearly two dollars a gallon year-over-year from the $3.97 recorded on March 10, 2008.

While diesel prices have dropped for eight consecutive weeks, the price of oil continues to rise. According to the Associated Press, the price of a barrel of crude oil rose to $47.65 a barrel yesterday on the New York Mercantile Exchange after the Organization of Petroleum Exporting Countries (OPEC) indicated it would likely announce another production cut sometime in the next few days.

The most expensive area for diesel fuel continues to be New England, where it averaged $2.43 per gallon. The least expensive area is the Midwest, where it averaged $1.99 per gallon.