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Diesel price drops

| August 09, 2011

For the second week in a row, the national average retail price of diesel fell the week ended Aug. 8, dropping 4 cents to $3.897 a gallon, according to the U.S. Department of Energy’s Energy Information Administration.

Average prices in all regions dropped in the latest week led by a plunge of 6.9 cents to $4.067 in California. The West Coast, excluding California, dropped 5.1 cents $3.949. Following the latest decreases, only New England and the Central Atlantic area remain above $4 a gallon in the DOE figures.

The drop in fuel prices coincided with a sharp decline in oil prices and a stock market selloff.

With the latest price drop, the national average price is 90.6 cents higher than a year ago. The record diesel price was $4.764 in July 2008.

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