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Diesel prices dive for 10th week in a row to $3.077

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Diesel prices dive for 10th week in a row to $3.077
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For the 10th week in a row on-highway diesel took a price plunge, showing up Wednesday down 4.4 cents to just above $3 a gallon at $3.077. That was compared with $3.121 December 17.

In all 10 sectors monitored by the U.S. Energy Information Administration, diesel prices dived, with Midwest prices down the most (7.4 cents a gallon) at $2.944.

For a brief period, diesel in all regions was at or above the $3-a-gallon mark, with only the Gulf Coast area showing prices below that occasionally. Now, two other regions have joined in: the Midwest clocked in at $2.944; the Lower Atlantic area had prices at $2.987 a gallon and the Gulf Coast was at $2.869 Wednesday.

Slowing economic growth globally and a partial U.S. government shutdown heading into its sixth day whipsawed markets from Europe to Asia, The Associated Press reported.

Benchmark U.S. crude dropped 86 cents to $45.36 a barrel in electronic trading on the New York Mercantile Exchange. The contract posted its biggest one-day gain in more than two years and settled at $46.22 a barrel in New York on Wednesday. Brent crude, used to price international oils, shed $1.11 to come in at $53.36 a barrel.

More wild market swings appeared imminent today, with U.S. stocks heading sharply lower after the Dow’s big gains on Wednesday.

For more details on diesel prices by region, click here.

The Trucker News Staff

The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.

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The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
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