U.S. diesel price falls 1.8 cents, $2.928

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Diesel Prices1

The national average retail price of a gallon of diesel declined for the fifth consecutive week, this time falling 1.8 cents to $2.928 for the week ending Monday, June 14. The price, the lowest in three months, has fallen 19.9 cents in the past five weeks after six consecutive weeks of increases. Still, this week’s price is 35.6 cents higher than the same week last year, according to the U.S. Department of Energy.

All regions tracked by DOE saw price decreases. The biggest decrease, 3.1 cents, was found in the Rocky Mountains, where prices fell to $2.989. The smallest decrease, 0.4 cent, was found on the West Coast, where prices fell to $3.054.

The nation’s most expensive diesel by region, $3.067, was found in the Central Atlantic, where prices fell 2.3 cents. The nation’s least expensive diesel by region, $2.874, was found on the Gulf Coast, where prices fell 2.5 cents.

California, which DOE tracks separately for its weekly update, saw no price change at $3.068; that price is 33.4 cents higher than the same week last year.

DOE’s latest monthly short-term energy outlook projects that diesel will average $2.96 this year and $3.11 in 2011; last year, diesel averaged $2.46 a gallon.