Diesel Prices Slip from Record Highs

WASHINGTON, D.C. --- For the first time since June 30, the U.S. average retail diesel price dropped, according to a Department of Energy report released July 23.

The department's Energy Information Administration (EIA) said the price of diesel slipped 4.6 cents to $4.718 per gallon during the week. Prices decreased in all five regions from the record highs set the previous week.

The average price on the East Coast dropped 4.9 cents to $4.773 per gallon. The price in the Midwest remained the lowest of any region at $4.649 per gallon, representing a decrease of 4.9 cents.

The average diesel price in the Gulf Coast slipped 3.6 cents to $4.701 per gallon, the EIA said. The price decline in the Rocky Mountains was the smallest of any region, shrinking just four-tenths of a cent to $4.714 per gallon.

On the West Coast, the average diesel price decreased the most, dropping 6.4 cents to $4.845 per gallon. In California, the average price slipped below $5 for the first time since June 30, falling 6.2 cents to $4.964 per gallon.