National on-highway average diesel prices Monday were down 3.2 cents from a week ago, following oil prices that have been nosing down of late because of a glut in supplies. Diesel rang up at $2.782 a gallon compared with $2.814 the week prior.
All 10 of the U.S. Energy Department’s Energy Information Administration (EIA) reporting sectors showed diesel price down-turns, some of them 4 and 5 cents cheaper than the week of July 13.
The Central Atlantic region showed prices down 5.3 cents a gallon; in the West Coast Less California sector truckers were paying 4.6 cents less at the pump; and truckers on the East Coast were paying 4.2 cents less than they were a week ago.
And that trend is only likely to continue as oil prices slide further down the scale. Monday’s oil futures went below $50 a barrel because of a perfect storm of the expectation of more Iranian crude for export, ample supplies and a strengthening U.S. dollar, Reuters reported.
U.S. August crude, which will expire Tuesday, fell 74 cents Monday to settle at $50.15 after falling to $49.85 earlier, the first time’s it’s been below $50 since April.
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