Diesel price sinks nearly 12 cents in biggest drop since Great Recession

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The national average price for a gallon of on-highway diesel fell 11.6 cents in the week ended Dec. 15 to $3.419 a gallon, according to the Department of Energy’s weekly fuel report.

That’s the largest week to week price drop since the week ended Nov. 24, 2008, when the national average tumbled more than 14 cents in a single week.

It’s also the lowest the U.S. diesel average price has been since the second week of January in 2011.

The national average price is now a whopping 45.2 cents lower than the same week last year, according to the DOE.

All regions in the U.S. also saw big price drops, led by the Rocky Mountain region’s 15.1-cent decrease, the Midwest’s 15-cent decrease and the West Coast less California’s 14.8-cent drop.

California had the U.S.’ most expensive diesel, $3.55, followed by the Rocky Mountain region’s $3.504.

The Lower Atlantic had the country’s cheapest diesel, $3.314, followed by the Gulf Coast’s $3.328 and the West Coast less California’s $3.371.

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