The Car and Truck Fleet and Leasing Management Magazine

Nov. 5 Report: Diesel Prices Average About $3 Per Gallon

November 07, 2008

WASHINGTON, D.C. --- Diesel prices throughout the country have continued their downward slide, the Energy Information Administration (EIA) said in its weekly report released Nov. 5.

The U.S. average price for diesel dropped 20 cents to hit $3.088 per gallon, the lowest since Oct. 15 of last year. The all-time high price for diesel was set at $4.764 per gallon on July 14. Since then, the price has fallen for 15 of the 16 past weeks, plunging a total of $1.676, the EIA said.

As prices continued to spiral downward, the average prices were lower than last year at this time in all regions except the New England portion of the East Coast, where the price was 4.5 cents above last year's price. On the East Coast as a whole, the average dropped 17.8 cents to $3.219 per gallon.

Tumbling the most among the five regions, the price in the Midwest fell 22.6 cents. At $3.018 per gallon, the price was also the lowest of any region.

The average price in the Gulf Coast slipped 18.6 cents to $3.033 per gallon. The price in the Rocky Mountains sank to $3.157 per gallon, a drop of 21.8 cents.

On the West Coast, the price fell 18.1 cents to $3.052 per gallon. In California, the average diesel price shrank by 22.9 cents to $3.057 per gallon.


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