EIA reports national diesel average, for week of May 10, is up for the second straight week
Following an uneven pattern of flat readings in recent weeks, the national average price per gallon of diesel gasoline headed up, for the week of May 10, rose for the second straight week, according to data issued this week by the Department of Energy’s Energy Information Administration (EIA).
Rising 4.4 cents, the national average came in at $3.186 per gallon, following a 1.8-cent increase, to $3.142, for the week of May 3. That was preceded by back-to-back readings of $3.124, for the weeks of April 19 and April 26, respectively. Prior to that, it slipped 1.5-cents, to $3.129, for the week of April 12, and a 1.7-cent decrease, to $3.144, for the week of April 5, and a 3.3-cent decrease, to $3.161, for the week of March 29. And prior to the last six weeks, the national diesel average headed up for 20 consecutive weeks. Even though the national average declined, it topped the $3 per gallon mark for the eleventh consecutive week, going back to the week of March 1, when it came in at $3.072 per gallon.
And before the week of March 1, the national average had been below the $3 per gallon mark since the week of February 2, 2020, when it posted an average of $2.956.
On an annual basis, this week’s national average is up 79.2 cents, topping the 74.3-cent spread, for the week of May 3.
West Texas Intermediate Crude oil is currently trading at $65.33 on the New York Mercantile Exchange.
In its Short-Term Energy Outlook, the EIA is pegging the average price per gallon of diesel to come in at $2.88 in 2021, with 2022 forecasted at $2.87. For WTI Crude, it is calling for the 2021 average to be $57.24, with 2022 at $54.75.
