National diesel average declines for seventh straight week, reports EIA

The national average price per gallon of diesel gasoline dropped for the sixth consecutive week, according to data issued today by the Department of Energy’s Energy Information Administration (EIA).

For the week of December 19, the average price per gallon—at $4.596—dropped 15.8 cents, following a 21.3-cent decline, to $4.754, for the week of December 12. That followed a 17.4-cent decline, to $4.967, for the week of December 5, for a 54.5-cent decline over the last three weeks alone and a 73.7-cent decline over the last seven weeks, going back to the week of November 7, when it checked in at $5.333 per gallon.

The December 19 weekly average is its lowest tally since the week of February 28, when it came in at $4.101, based on EIA data. And it also marks the third time the national diesel average came in below the $5 per gallon mark, going back to the week of October 3, when it was at $4.836, which, at that time, marked the third week in a row of weekly averages below $5 per gallon, with the week of September 19, at $4.964, and the week of September 26, at $4.889.

Compared to the same week a year ago, this week’s diesel average is up 97.0 cents, down from annual increases of the previous two weeks, at $1.105 and $1.293, respectively. WTI crude oil is currently trading at $76.02 on the New York Mercantile Exchange.