WTI

According to Goldman Sachs, prior to the Israeli attacks, Iran had raised its oil production by around 500,000 barrels a day. Goldman Sachs estimated for every 100,000 barrel a day decline in Iran’s production next year, Brent crude oil prices would rise by about $1 per barrel.

With a 4.6-cent decrease, the national average came in at $3.674 per gallon, following a $0.004-cent decrease, to $3.729, for the week of November 29, and a $0.001-cent decrease, to $3.724, for the week of November 22.

Falling 4.6 cents, this week’s national diesel average now stands at $2.910, following a 5.4-cent decrease last week to $2.956, with the national average now under the $3 per gallon mark for the second straight week. Prior to the last two weeks, diesel had not fallen below the $3 per gallon mark since the week of September 16, when it checked in at $2.987 and kicked off a 19-week stretch of $3 and above weekly averages.

Falling 0.07 cents, the national diesel average is now $3.044, following a 0.004 –cent decline, a 1.3-cent gain, and a 0.001-cent decline, respectively, over the previous three weeks.

This marks the highest weekly average price in more than two years, going back to the week of July 6, 2015, when it stood at $2.832 per gallon. And this continues a stretch of weekly gains on the heels of 1-cent and 0.4-cent gains the last two weeks.