National diesel average declines after temporary gain last week, reports EIA

After heading up for the first time after 19 consecutive weeks of declines one week ago, the national weekly average price per gallon of diesel gasoline again headed down, according to data issued this week by the Department of Energy’s Energy Information Administration (EIA).

Falling 0.004-cents, this week’s national average came in at $2.386 per gallon, following a 0.004-cent increase for the week of May 25 and declines of 0.008-cents, 0.005-cents, 3.8-cents, and 4.3-cents, respectively, over the previous three weeks.

Going back to the week of January 13, when the national diesel average was $3.064, diesel prices fell a cumulative 66.56 cents through May 18, a 19-week span. What’s more, the national weekly average has been below the $3 per gallon mark since the week of February 3, when it was fell to $2.956, following a $3.01 average for the week of January 27.

On an annual basis, this week’s average is down 75.0 cents, below the 76.1-cent and 77.7-cent declines, respectively, over the previous two weeks.

West Texas Intermediate Crude is currently trading at $35.91 per barrel on the New York Mercantile Exchange, topping last week’s $32.45 average.