U.S. national diesel average falls for eighth time in nine weeks

The national average price per gallon of diesel gasoline headed down for the eighth time in the last nine weeks, for the week of January 9, according to data issued this week by the Department of Energy’s Energy Information Administration (EIA).

Falling 3.4 cents, the national average came in at $4.549 per gallon, following a 4.6-cent increase, to $4.583, for the week of January 2. This followed a 5.9-cent decline, to $4.537, for the week of December 26 and a 15.8-cent decline, to $4.596, for the week of December 19, on the heels of a 21.3-cent decline, to $4.754, for the week of December 12. That followed a 17.4-cent decline, to $4.967, for the week of December 5. Going back to the week of November 7, when the national diesel average was at $5.333 per gallon,

The December 26 weekly average is its lowest tally since the week of February 28, 2022, when it came in at $4.101, based on EIA data. And it also marked the sixth time the national diesel average came in below the $5 per gallon mark, going back to the week of October 3, when it was at $4.836, which, at that time, marked the third week in a row of weekly averages below $5 per gallon, with the week of September 19, at $4.964, and the week of September 26, at $4.889.

Compared to the same week a year ago, this week’s diesel average is up 89.2 cents, down from last week’s 97.0-cent difference. WTI crude oil is currently trading at $75.02 per barrel on the New York Mercantile Exchange.