National diesel average falls for fifth time in last eight weeks, reports EIA

The national average price per gallon of diesel gasoline fell for the fifth time in the last eight weeks, according to data issued today by the Department of Energy’s Energy Information Administration (EIA).

The national average, for the week of November 13, fell 7.2 cents, to $4.294 per gallon, which was preceded by an 8.8-cent decline, to $4.366, for the week of November 6. Prior to that was a 9.1-cent decline, to $4.454, for the week of October 30, which was preceded by a 10.1-cent gain, to $4.545, per gallon, for the week of October 23. That marked the highest weekly gain since a 13.9-cent increase, to $4.378, for the week of August 14. Over the last three weeks, the national diesel average has fallen a cumulative 25.1 cents. 

With a 5.4-cent decrease, the national average, for the week of October 16, was $4.444 per gallon, following a 9.5-cent increase, to $4.498 per gallon, for the week of October 9, and a slight 0.007-cent increase, to $4.593, for the week of October 2, and a 4.7-cent decline, to $4.586, for the week of September 25.

The decline, for the week of September 25, was the first weekly decline going back to the week of July 24, a ten-week stretch, which saw the national average rise 87.2 cents over that period.  

In previous weeks leading up to the week of September 25, the national average saw a 9.3-cent increase, to $4.633 per gallon, for the week of September 18, and a 4.8-cent increase, for the week of September 11, to $4.50 per gallon.

Compared to the same week a year ago, the national average was down $1.019, steeper than the previous three weeks, with annual decreases at 96.7 cents, 86.3 cents, and 79.6 cents, respectively.

The average price per barrel of WTI crude is currently trading at $79.49 per barrel on the New York Mercantile Exchange, above the $78.67 reading a week ago at this time.