Wednesday, December 06, 2017 9:15:36 AM
The U.S. average retail price of diesel dipped 0.4 cent to $2.922 a gallon as oil prices also slipped as domestic and foreign producers squared off over how to manage production.
Diesel costs 44.2 cents more than it did a year ago, when it was $2.480 a gallon, the Department of Energy said Dec. 4.
Average prices for trucking’s main fuel fell in all regions except in New England and the Gulf Coast, where they rose 1.6 cents and 0.1 cent, respectively, and in the Lower Atlantic, where they were unchanged.
The U.S. average price for regular gasoline fell 3.3 cents to $2.50 a gallon. It costs 29.2 cents more than it did a year ago, DOE's Energy Information Administration said.
Prices fell in all regions, as they did the previous week when the average price declined 3.3 cents.
West Texas Intermediate crude futures on the New York Mercantile Exchange closed at $57.47 on Dec. 4, compared with $58.11 on Nov. 27.
Foreign producers will maintain cuts until global supply meets demand, Saudi Arabian Energy Minister Khalid Al-Falih said. The Organization of Petroleum Exporting Countries’ output in November dropped to a six-month low, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data.
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