Diesel average falls for 13th consecutive week, reports EIA

The national average price per gallon for diesel gasoline dropped for the 13th consecutive week, according to data issued this week by the Department of Energy’s Energy Information Administration (EIA).

The national diesel average, at $2.976 per gallon, fell 3.7 cents compared to last week’s $3.013 and marks the first time diesel has fallen below the $3 per gallon mark since it came in at $2.972 the week of March 19, 2018.

Over the last 13 weeks, diesel has fallen a cumulative 41.8 cents. Prior to the last 13 weeks of declines, the weekly average price was $3.394 for the week ending October 15, which marked the single highest weekly average going back to the week of December 15, 2014, when it was at $3.419 per gallon, according to EIA data, and the average for the week ending October 8 was $3.385.

Over that nine-week stretch of gains, going back to the week of August 20 to the week of October 15, the national diesel average price increased by 18.7 cents over that span.

On an annual basis, this week’s $2.976 average is up 5.2 cents

West Texas Intermediate crude oil is currently trading at $52.17 per barrel on the New York Mercantile Exchange, which is up $1.66 compared to last week.