Diesel, gas prices continue to fall

The national average price for diesel fell for the fourth straight week for the week ending Sept. 11, says the U.S. Energy Info Administration (EIA). The national average was $2.857, down from $2.967 the previous week. Meanwhile, gasoline prices continue to plummet, with the national average for regular falling almost 11 from the previous week's average to $2.618/gal. on Sept. 11, EIA reports. Mike

The national average price for diesel fell for the fourth straight week for the week ending Sept. 11, says the U.S. Energy Info Administration (EIA). The national average was $2.857, down from $2.967 the previous week.

Meanwhile, gasoline prices continue to plummet, with the national average for regular falling almost 11¢ from the previous week's average to $2.618/gal. on Sept. 11, EIA reports.

Mike O'Connor, president of the Virginia Petroleum, Convenience and Grocery Association (VPCGA), says in a Sept. 12, USA Today article that gasoline prices are plummeting because “they shouldn't have been that high in the first place. Two reasons they were: fear and speculation.” VPCGA represents gasoline distributors who operate about 4,000 stations.

What's more, O'Connor says $2 gasoline “is more likely than unlikely” if the Gulf of Mexico isn't hit by hurricanes and theres no flare-up of tensions in oil-producing regions.