Diesel prices are up for sixth straight week, reports EIA

With a 5-cent increase, the average price per gallon is now at $2.581 and is up 26.5 cents compared to the same week last year.

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The Department of Energy’s Energy Information Administration (EIA) reported this week that the average price per gallon of diesel gasoline increased for the sixth consecutive week. 

With a 5-cent increase, the average price per gallon is now at $2.581 and is up 26.5 cents compared to the same week last year.  

Over the past six weeks, diesel has headed up by a cumulative 11.6 cents.

West Texas Intermediate crude oil is currently trading at $49.64 on the New York Mercantile Exchange.  

MarketWatch reported that oil prices have headed up on following reports that Saudi Arabia is planning to cut exports to Asia next month. It added that Saudi Arabia, the world’s largest produced of crude oil, is expected to cut sales of oil supplies to Asia by up to 10% in September, to tackle the global crude glut.

The EIA’s Short-Term Energy Outlook is calling for WTI crude to average $48.95 in 2017 and $49.58 in 2018, with diesel pegged at $2.59 per gallon on 2017 and $2.71 per gallon in 2018. 


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Article Topics

Diesel Prices · EIA · All Topics
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