National diesel average is up after two flat weeks, reports EIA

The national average price per gallon of diesel gasoline headed up, for the week of May 3, after remaining flat for the week of April 26, according to data issued this week by the Department of Energy’s Energy Information Administration (EIA).

With a 1.8-cent increase, the national diesel average came in at $3.142 per gallon, following back-to-back readings of $3.124, for the weeks of April 19 and April 26, respectively. Prior to that, it slipped 1.5-cents, to $3.129, for the week of April 12, and a 1.7-cent decrease, to $3.144, for the week of April 5, and a 3.3-cent decrease, to $3.161, for the week of March 29. And prior to the last six weeks, the national diesel average headed up for 20 consecutive weeks. Even though the national average declined, it topped the $3 per gallon mark for the tenth consecutive week, going back to the week of March 1, when it came in at $3.072 per gallon.

And before the week of March 1, the national average had been below the $3 per gallon mark since the week of February 2, 2020, when it posted an average of $2.956. 

On an annual basis, this week’s national average is up 74.3, topping the 68.7-cent annual spread, for the week of April 26.

West Texas Intermediate Crude oil is currently trading at $65.29 on the New York Mercantile Exchange.

In its Short-Term Energy Outlook, the EIA is pegging the average price per gallon of diesel to come in at $2.88 in 2021, with 2022 forecasted at $2.87. For WTI Crude, it is calling for the 2021 average to be $57.24, with 2022 at $54.75.