WASHINGTON — The average price for a gallon of diesel has dropped another 3 cents — the 13th decline in 14 weeks — bringing the cost of fuel to the lowest level in more than 16 months.

Officially, the nationwide retail on-highway price for a gallon of diesel came in at $3.648, according to the July 2 report by the Energy Information Administration of the Department of Energy. The last time the price of diesel was lower was Feb. 21, 2011, when it was $3.573 — and then jumped almost 30 cents over the next two weeks.

Diesel is now 20.2 cents cheaper than it was a year ago.

Read Full Article Here