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Mar 24, 2009 11:35 AM

The average price of diesel fell to $2.090 per gallon last week, 7.3 cents lower than the week before.

The Department of Energy reported that the diesel price was almost $2 per gallon lower than for the same time last year. Last week, ultra low sulfur diesel was $2.093 per gallon, seven cents lower than the week before and $2 per gallon lower than the same time last year.

At the same time, the price of crude oil has been in an upward trend and topped out at $50 per barrel this week in contrast to about $30 per barrel as recently as December.

Tempering the crude price is a reduction in diesel demand, plunging 12 percent in February. Jet fuel demand dropped 6.6 percent from a year ago, according to data from the American Petroleum Institute.