Diesel Drops an Average of 4.3 cents a Gallon
January 9th, 2007
From thetrucker.com
WASHINGTON (Jan. 8, 2007) — The decline in oil prices showed up at the pump the first full week of 2007 as the average weekly retail on-highway price of a gallon of diesel declined 4.3 cents to $2.537, the lowest since the first week of November 2006.
The price was only 5.2 cents higher than the same time one year ago, according to the Energy Information Administration of the Department of Energy.
Reuters reports that after seeing significant strength in early trading today, the price of oil had pulled back well off its high for the session. Crude for February delivery is currently up $0.07 at $56.38 a barrel after reaching a high of $57.72 a barrel.