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Jan 27, 2009 3:09 PM

After a 12-month roller coaster ride, the average price of diesel last week fell 2.8 cents to $2.268 per gallon, almost $1 per gallon less than the year before, according to data from the Department of Energy (DOE).

In January last year, the price was $3.259 per gallon. By Memorial Day the average price had reached what would be the 2008 high of $4.72 per gallon. After May, the slide began so that by Thanksgiving carriers were paying about $2.66 per gallon at the pump.

Meanwhile, last week the price of ultra low sulfur diesel also was lower at $2.28 per gallon, 2.9 cents less than the week before.

DOE predicted in its December short-term energy report that the 2009 average price would be $2.27 per gallon.