National diesel average heads down for first time in three weeks, reports EIA

Following two weeks of gains, the national average price per gallon of diesel gasoline fell nearly four cents, according to data issued this week by the Department of Energy’s Energy Information Administration (EIA).

With a 3.8-cent decline, the national average, for the week of April 1, came in at $3.996 per gallon. This was preceded by a slight 0.006-cent increase, to $4.034, for the week of March 25, and a 2.4-cent increase, to $4.028, for the week of March 18. That gain was preceded by 1.8-cent decline, to $4.004, for the week of March 11, a 3.6-cent decline, to $4.022, for the week of March 4, and 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, 2023.

This week's average marks the first time the national diesel average was below the $4 per gallon mark, going back to the week of February 5, when it came in at $3.899 per gallon. 

Compared to the same week a year ago, the national average was down 10.9 cents, in line with the 9.4-cent decline, for the week of March 25, and below the annual declines seen over the three weeks prior to that, at 15.7 cents, 24.3 cents, and 26.0 cents, respectively.

The average price per barrel of WTI crude is currently trading at $85.89 on the New York Mercantile Exchange, topping the $82.07 reading a week ago at this time.