For just the second time since the Iran war started in late February, the national average price for a gallon of diesel actually dropped.
The price per gallon for diesel dropped just over 14 cents this week from $6.529 to $6.382, according to the U.S. Energy Information Administration’s weekly report.
Every reporting region, except for the Rocky Mountain Region reported a decrease in its per gallon price.
The Rocky Mountain Region rose from $6.340 to $6.407, a more than seven-cent jump.
The largest drop came form the Gulf Coast Region which tumbled more than 22 cents from $6.177 to $5.955.
According to reporting from the Associated Press, oil prices have been swinging sharply as the U.S. war with Iran drags on, helping to push Treasury yields to their highest levels in 24 years.
The price of Brent crude oil in the most actively traded part of the oil market fell 1% to $96.84 a barrel. It briefly climbed above $100 on Monday before prices eased a bit, but they are still well above the roughly $72 it cost before the U.S. and Israel attacked Iran in late February.
Mediators continued to work with the United States and Iran on reaching a deal to end the fighting and open the Strait of Hormuz. U.S. President Donald Trump over the weekend rejected an offer from Tehran to reopen the key waterway.
Energy stocks had some of the broadest losses. Exxon Mobil fell 0.7%.
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.
