US diesel prices down for second consecutive week to US$4.085/gallon

THE average price of diesel fell 4.9 cents for the first time in 12 weeks but still up on the 30 cents paid on the same week in 2011 at US$4.085/gallon, said the US Energy Information Administration.

The flattening of prices follows a summer of relentless increases creating a country wide drop outside of the Gulf Region which decreased further to below the $4 per gallon.

A drop of one per cent to 96 cents was post by the New York Mercantile Exchange for November on crude oil, reflecting signs of sluggish oil demand from top global oil consumers, reported the Wall Street Journal.