The national diesel average, for the week of March 4, was down for the second consecutive week, according to data issued today by the Department of Energy’s Energy Information Administration (EIA).
The national average, at $4.022, fell 3.6 cents, following a 5.1-cent decline (its largest weekly decrease in 2024), to $4.058, for the week of February 26, which followed matching $4.109 readings, for the weeks ending February 12 and February 19.
This activity was preceded by a 21.0-cent increase, to $4.109, from the week of February 5 to February 12, which represented the largest weekly gain since the 22.2-cent increase, from $3.905 per gallon to $4.127 per gallon, from the week of July 24 to the week of July 31.
Prior to that the national average rose 3.2 cents, to $3.867, for the week of February 5, a 2.9-cent increase to $3.838, for the week of January 29, a 3.5-cent increase, to $3.863 per gallon, for the week of January 15, a 4.8-cent decrease, to $3.828, for the week of January 8, and a 3.8-cent decrease, to $3.876, for the week of January 1. At that time, it marked the first weekly increase since the week of December 25, which saw a 2.0-cent increase, to $3.914, and snapped an eight-week stretch of declines, for a total of 56.0 cents over that period.
The national average was below the $4 per gallon mark from the week of December 11, when the national average was at $3.987 per gallon, through the week of February 5, when the national average was at $3.899 per gallon.
Compared to the same week a year ago, the national average was down 26.0 cents, steeper than last week’s 23.6-cent annual decline. And the average price per barrel of WTI crude is currently trading at $78.06 on the New York Mercantile Exchange, in line with the $78.17 reading a week ago at this time.