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Average diesel price falls below $4 for first time since February

The prices is the lowest since the week ending Feb. 13, 2012, when the price was $3.943. (The Trucker file photo)

The Trucker News Services

5/21/2012

WASHINGTON — The average retail on-highway price of a gallon of diesel fell 4.8 cents to $3.95.6 for the week ending May 21, marking the first time since late February that the average price has gone below $4 a gallon, according to the Energy Information Administration of the Department of Energy.

It’s also the lowest price since the week ending Feb. 13, 2012, when the price was $3.943.

Declining oil prices, which fell into the low $90 range last week, likely contributed to the decline, which has now reached 19.2 cents a gallon since the most recent peak of $414.8 for the week ending April 9.

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The largest weekly decline for the current reporting period was 6.2 cents in the New England region.

The price is 4.1 cents a gallon lower 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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