U.S. diesel price falls 0.4 cent, $2.899

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Diesel Fuel Dispenser

The national average retail price of a gallon of diesel declined for the fourth consecutive week, this time falling 0.4 cent to $2.899 for the week ending Monday, July 19. The price has fallen 6.2 cents since June 21. This week’s price is 40.3 cents higher than the same week last year, according to the U.S. Department of Energy.

Regions tracked by DOE saw a mix of price declines and increases. The biggest decrease, 1.5 cents, was found on the West Coast, where prices fell to $3.042, the nation’s most expensive diesel by region. The smallest decrease, 0.2 cent, was found in New England, where prices fell to $3.015.

The biggest increase, 0.2 cent, was found on the Gulf Coast, where prices climbed to $2.859, the nation’s least expensive diesel by region. The smallest increase, 0.1 cent, was found in the Midwest, where prices climbed to $2.866.

California, which DOE tracks separately for its weekly update, saw a 0.7-cent price decrease to $3.116; that price is 41.3 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.