National diesel average rises after seven weeks of declines

Following seven straight weeks of declines, the national average price per gallon of diesel gasoline headed up, according to data issued today by the Department of Energy’s Energy Information Administration (EIA).

For the week of January 2, the average price per gallon—at $4.583—rose 4.6 cents, following a 5.9-cent decline, to $4.537, for the week of December 26.

That was preceded by 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, when it came in at $4.101, based on EIA data. And it also marked the fourth 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 97.0 cents. WTI crude oil is currently trading at $74.75 per barrel on the New York Mercantile Exchange.