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Price of diesel plummets 8.6 cents to $4.03

Every region of the country posted a decline led by 11.7 cent drops in the Midwest and California. (The Trucker file photo)

The Trucker News Services

10/31/2012

WASHINGTON — The average on-highway price of a gallon of diesel plummeted 8.6 cents to $4.03 for the week ending Oct. 29, according to the Energy Information Administration of the Department of Energy.

The price, which usually is published each Monday, was delayed until late Tuesday because federal offices were closed Monday and Tuesday as a result of superstorm Sandy.

The decline was the second significant drop in two weeks since the price hit $4.15 for the week ending Oct. 15 and inched the price closer to the under $4 mark, a price last achieved for the week ending Aug. 13 when the average price was $3.965.

Every region of the country posted a decline led by 11.7 cent drops in the Midwest and California.

Despite the good news, the price was still 13.8 cents higher than one year ago.

For a complete list of prices by region for the past three weeks, click here.

The Trucker staff can be reached for comment at editor@thetrucker.com.

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