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Diesel slides another penny, to $3.880

On-highway diesel prices broke their nine-week fall two weeks ago. However, only the Energy Information Administration’s California reporting sector this week showed diesel selling above the $4-a-gallon mark, with prices at $4.044 compared with $4.072 the week before.

The Trucker News Services

5/28/2013

National on-highway diesel prices slid down another penny Monday, showing up Tuesday because of the national holiday May 26.

Prices yesterday registered at $3.880 per gallon, down from $3.890 the week prior and down 1.7 cents a gallon from a year ago at this time.

On-highway diesel prices broke their nine-week fall two weeks ago. However, only the Energy Information Administration’s California reporting sector this week showed diesel selling above the $4-a-gallon mark, with prices at $4.044 compared with $4.072 the week before.

Diesel prices have been tracking oil prices, which in turn have been tracking stocks and the economy, most recently U.S. home prices which rose the most in seven years, it was reported today.

Also, consumer confidence reached a five-year high, prompting U.S. stock markets to post increases of more than 1 percent by midday.

Oil's gains could be short-lived, however, if recent concerns about demand resurface. China, which has seen a decline in manufacturing activity, releases data on factory production later this week and in the U.S., demand for gasoline has been weaker compared with last year.

For details on diesel prices in all reporting sectors, click here.

The Trucker staff can be reached to comment on this article at editor@thetrucker.com.

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