Diesel average is down slightly, reports EIA

The Department of Energy’s Energy Information Administration (EIA) reported this week that the average price per gallon of diesel gasoline dipped 0.4 cents to $2.922 per gallon.

This slight decline follows a 1.4-cent increase last week, which was preceded by a 0.3-cent decline 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.    

Even with the slight decline, this week’s price is the second-highest weekly average in more than two years, below last week’s average of $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 two weeks.

Compared to the same week a year ago, this week’s diesel average is up 44.2 cents. And the average prices of a barrel of West Texas Intermediate Crude oil on the New York Mercantile Exchange is  $57.47.