For just the second time in several months, the price for a gallon of diesel fuel has dropped.
That is according to the U.S. Energy Information Administration’s (EIA) weekly report.
The national average for the price of a gallon of diesel fell by slightly over five cents per gallon from $5.652 to $5.599.
Five of the 10 reporting regions reported a moderate decrease this week.
The largest decline came from the Gulf Coast Region, falling from $5.481 to $5.360, a more than 12-cent drop
The Lower Atlantic Region fell by just more than seven cents per gallon from $5.350 to $5.276.
After a more stable oil market in recent days, the Associated Press reported on Tuesday that the price of oil rose overnight which reflected in international markets.
Brent crude gained 2% to $92.35 per barrel. It gained 2.7% on Monday after the U.S. attacked rocket launchers on an Iranian island on Sunday, saying they were preparing to launch mines into the Strait of Hormuz. Iran responded by launching missiles at U.S. sites in Jordan, all of which were intercepted.
The war has curtailed traffic in the Strait of Hormuz, which once accounted for about 20% of the world’s oil shipments. Oil prices remain high after an initial surge earlier in the war, and that has made everything from gasoline to shipped goods more expensive.
U.S. benchmark crude climbed 2.5% to $87.84 per barrel.
The largest risers in price came from the California Region, which rose nearly 18 cents from $7.040 to $7.218, and the West Coast Region which jumped by nine cents per gallon from $6.407 to $6.497.
Bruce Guthrie is an award-winning journalist who has lived in three states including Arkansas, Missouri and Georgia. During his nearly 20-year career, Bruce has served as managing editor and sports editor for numerous publications. He and his wife, Dana, who is also a journalist, are based in Carrollton, Georgia.
