Diesel drops 1.5 cents to $2.992 a gallon

From Transport Topics.

The U.S. retail diesel average declined 1.5 cents to $2.992 a gallon, the Department of Energy reported March 5. Truckling’s main fuel has fallen in price four consecutive weeks totaling 9.4 cents. Diesel costs 41.3 cents more than a year ago, DOE reported after its survey of fueling stations.

Crude oil rose the most in two weeks March 5 as stockpiles at the largest U.S. storage hub are seen draining further, Bloomberg News reported.

Concern that U.S. crude output, already at a record, will continue to climb has capped any significant rallies. The nation will dominate global oil markets for years to come, satisfying 80% of global demand growth to 2020, IEA also said in its report March 5.

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