National diesel average is down, for second straight week, to start 2024

The national average price per gallon of diesel gasoline declined, for the second straight week, to begin 2024, according to data issued this week by the Department of Energy’s Energy Information Administration (EIA).

Falling 4.8 cents, the national diesel average came in at $3.828, for the week of January 8. This followed a 3.8-cent decrease, to $3.876, for the week of January 1 and a 2.0-cent increase, to $3.914, for the week of December 25, snapping an eight-week stretch of declines, for a cumulative 56.0-cent decline. The national average has fallen in 12 of the last 15 weeks and ten of the last 11 weeks. 

Prior to the week of December 18, when the national average fell 9.3 cents, to $3.894 per gallon, the national average was off 10.5 cents to $3.987, for the week of December 11. That was preceded by a 5.4-cent decline, to $4.092 per gallon, for the week of December 4, a 6.3-cent decline, to $4.146 per gallon, for the week of November 27, an 8.5-cent decline, to $4.209 per gallon, a 7.2-cent decline, to $4.294 per gallon, for the week of November 13, and an 8.8-cent decline, to $4.366, for the week of November 6.

What’s more, the national average has been below the $4 per gallon mark over the past four weeks, going back to December 18, marking the first weeks the national average fell below that level since coming in at $3.905 for the week of July 24.

Compared to the same week a year ago, the national average was down 72.1 cents, steeper than last week’s 70.7-cent annual decrease. The average price per barrel of WTI crude is currently trading at $72.05 per barrel on the New York Mercantile Exchange, ahead of the $72.61 reading a week ago at this time.