U.S. diesel price falls 2.1 cents, $2.903

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Fuel Nozzle

The national average retail price of a gallon of diesel declined for the third consecutive week, this time falling 2.1 cents to $2.903 for the week ending Monday, July 12. The price has fallen 5.8 cents since June 21. This week’s price is 36.1 cents higher than the same week last year, according to the U.S. Department of Energy.

All regions tracked by DOE saw price declines. The biggest decrease, 3.3 cents, was found in the Central Atlantic, where prices fell to $3.022. The smallest decrease, 0.9 cent, was found on the Gulf Coast, where prices fell to $2.857, the nation’s least expensive diesel by region.

The nation’s most expensive diesel by region, $3.057, was found on the West Coast, where prices fell 2.0 cents. California, which DOE tracks separately for its weekly update, saw a 0.9-cent price decrease to $3.123; that price is 39.6 cents higher than the same week last year.

DOE’s latest monthly short-term energy outlook projects that diesel will average $2.98 this year and $3.13 in 2011; last year, diesel averaged $2.46 a gallon.