U.S. on-highway diesel down a hair, reflecting oil’s instability
What goes up must come down as diesel follows oil prices at a slower pace.
The Trucker News Services
The price of U.S. on-highway diesel dropped seventh-tenths of a penny today, with the national average at $3.974 Monday compared with$3.981 the week before.
Last week was the first time this year that diesel prices had stayed the same two weeks in a row and was the highest price for diesel since April 1, when it was $3.993.
But what goes up must come down as diesel follows oil prices at a slower pace.
All but two of the Energy Information Administration’s 10 reporting regions showed a decrease. The Rocky Mountain sector and California bucked the trend with the Rocky Mountain area up seven-tenths of a penny and California reporting prices that were three-tenths of a penny more than the week prior.
Oil slipped below $107 a barrel Monday as American and Russian chemical weapons experts met in Geneva to hammer out a plan for getting Syria to turn over its chemical weapons arsenal.
Brent prices received some support from Libya's continued complications in its oil industry, including production snags and labor conflicts at export terminals.
For more details on diesel prices by region click here.
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