The price of diesel continues to drop

Although gas prices have had everyone avoiding the pump over the past few months, the cost of diesel continues to drop. This could sway more people in fleet management to adopt diesel engines for their trucks in an effort to stave off the high cost of gas.

Trucking Info reports that on-highway diesel prices have dropped on a national level by 6.4 cents. As a result, the national average for fuel prices is just below $4 a gallon, but $3.997 is still considered relatively high.

Additionally, the price of oil has dropped below $100 a barrel to $97.70. This could be good news for those who are trying to cut costs by any means possible.

The news provider reports that this decrease is because of the strength of the dollar in comparison to other currencies. When this occurs, oil prices usually decrease, which is why analysts are suggesting that it is not out of the ordinary.

Today's Trucking reports that the U.S. is not the only country feeling the drop, as prices in Canada have begun to decrease as well.

By Mark Priest

The price of diesel continues to drop

Tuesday, May 24th, 2011