National diesel average is up for the first time in three weeks, reports EIA

Following declines to start 2024, the national average price per gallon of diesel gasoline headed up, for the week of January 15, according to data issued this week by the Department of Energy’s Energy Information Administration (EIA).

With a 3.5-cent increase, the national diesel average came in at $3.863 per gallon. This came on the heels of a 4.8-cent decrease, to $3.828, for the week of January 8, and a 3.8-cent decrease, to $3.876, for the week of January 1. This marks the first weekly increase since the week of December 25, which saw a 2.0-cent increase, to $3.914, and snapped an eight-week stretch of declines, for a total of 56.0 cents over that period. Even with this week’s decrease, the national average has been down in 12 of the last 16 weeks and 10 of the last 12 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 66.1 cents, below last week’s 72.1-cent annual decrease. The average price per barrel of WTI crude is currently trading at $72.00 per barrel on the New York Mercantile Exchange, in line with the $72.05 reading a week ago at this time.