National diesel average sees another strong gain, for the week of August 14, reports EIA
The swift pace of rising diesel prices held firm, again, for the week of August 14, according to data issued this week by the Department of Energy’s Energy Information Administration (EIA).
The national average saw a 13.9-cent increase to $4.378 per gallon, for the week of August 14. This follows an 11.2-cent gain to $4.239 per gallon, for the week of August 7, and a 22.2-cent increase, for the week of July 31, which represented the single largest weekly gain since a 40.1-cent increase, for the week of March 14, 2022. This was preceded by a 9.9-cent increase, to $3.905, for the week of July 24, which now marks the third-largest weekly increase going back to the week of March 14, 2022.
Over the past four weeks, going back to the week of July 24, the national diesel average has seen a cumulative 57.2-cent increase. What’s more, EIA data observed the last time the weekly average saw gains for even two consecutive weeks, prior to this four-week stretch, were the weeks of January 23 and January 30, for a cumulative 9.8-cent increase.
The last four weeks of gains were preceded by two weeks of flat national averages, at $3.806, for the weeks of July 7 and July 14, respectively. For the week of July 3, the national average fell 3.4 cents, to $3.767.
Prior to the 3.4-cent decline, for the week of July 3, the national average fell 1.4-cents to $3.801, for the week of June 26, which was preceded by matching 0.003-cent declines, for the weeks of June 12 and June 19, to $3.794 and $3.815, respectively. That was preceded by a 5.8-cent decline, for the week of June 5, to $3.797, which was preceded by a 2.8-cent decline to $3.855 per gallon, for the week of May 29, a 1.4-cent decline, to $3.883, for the week of May 22, a 2.5-cent decline, to $3.897 per gallon, for the week of May 15 and a 9.6-cent decline, to $3.922, for the week of May 8, which represented its largest weekly decline since a 9.5-cent drop to $4.444, for the week of February 13.
The national average is down 53.3 cents annually, well below the 75.4-cent annual decrease a week ago at this time. WTI crude oil is trading at $81.27 on the New York Mercantile Exchange.
