On-highway diesel slips 0.7 cents as oil continues its slide

Oil fell more than $1 to below $74 a barrel today amid concerns about the health of the European banking sector regarding the ongoing economic recovery and the outlook for energy demand. (Photo by BARB KAMPBELL)

The Trucker News Services

9/7/2010

On-highway weekly diesel prices slipped 0.7 cents this week for the national average, although some reporting regions like the Central Atlantic area, saw diesel dip 1.3 cents from last week, from $3.007 yesterday to $3.020 the week of Aug. 30.

The Gulf Coast reporting region reported a 1.2-cent drop in diesel, turning in $2.876 Monday compared with $2.888.

An explosion at a major oil refinery in Mexico saw prices rise off their lows on expectations Mexico will have to import more oil products from the United States and other trading partners in the coming months, however, Reuters reported.

U.S. crude fell $1.01 a barrel to $73.59 at 1714 GMT (1:14 a.m. EDT), but was more than $1 above earlier low of $72.63. Brent crude was up 29 cents from Monday's close to $77.17.

There was no settlement price for U.S. crude on Monday because of the Labor Day holiday.

For details on diesel prices for all reporting regions click here.

The Trucker staff may be contacted to comment at editor@thetrucker.com.