Diesel prices remained steady for the week of May 4, 2009. Prices dropped a penny from the week before to $2.19/gal. nationally. The drop followed a 2 cent fall the previous week, which came after three weeks with nearly no change.
New England remains the most expensive region at $2.38, down 2 cents from a week ago. No region saw an increase this week. Only the Central Atlantic region and California showed no change at $2.37 and $2.32, respectively. The cheapest diesel is in the Midwest, where a gallon costs $2.12.
The prices are nearly 50% below levels of a year ago, when diesel was at $4.33, and the four-week average sits at $2.21.
Crude oil has risen to a five-month high, passing $54/barrel. Bloomberg News reported the jump is due in part to pending home sales in the U.S. rising for the second straight month and to equity markets in China and Australia rising.
