Diesel average heads down for second week in a row, says EIA

The average price per gallon of diesel gasoline fell for the second straight week, according to data issued by the Department of Energy’s Energy Information Administration (EIA).

Following a 0.4-cent decline last week, this week’s average dipped 1.2 cents to $2.910 per gallon. Prior to these two weeks of declines, the diesel average was up 1.4 cents two weeks ago which marked the first time the weekly average had dropped in more than a month, with gains of 3.3 cents, 2.2 cents 1 cent, and 0.4 cents, respectively, over the previous four weeks ahead of that decline.    

Despite falling, this week’s diesel average is the third-highest weekly average in more than two years, below the last two week’s averages of $2.922 and $2.926. The $2.915 recorded during the week of November 13 had been the recent highest weekly price, when it eclipsed the week ending June 15, 2015 at $2.87, prior to the last three weeks.

Compared to the same week a year ago, this week’s diesel average is up 41.7 cents below last week’s annual spread of 44.2 cents. And the average prices of a barrel of West Texas Intermediate Crude oil on the New York Mercantile Exchange is  $58.56.