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Do lower oil prices mean lower diesel prices?

Published Thursday, July 10, 2008

Oil prices have started--albeit it slowly—to drop this week, falling from a record high of $145 per barrel on July 3 to closing at $135.64 a barrel yesterday. But will this lead to any savings at the pump? Diesel prices did not react this week to the falling price of crude oil, increasing 8 cents per gallon for the week of July 7 to a new record high of $4.72 per gallon, according to information from the Energy Information Administration (EIA). “Diesel fuel retail prices in 2008 are projected to average $4.35 per gallon, up ...

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