Diesel average drops for third consecutive week, reports EIA

The Department of Energy’s Energy Information Administration (EIA) reported this week that the average price per gallon of diesel gasoline fell for the third straight week.

With a 0.9-cent decline, the average price per gallon now stands at $2.901, which follows declines of 0.4 cents and 1.2 cents, respectively, the previous two weeks.

Prior to these two weeks of declines, the diesel average was up 1.4 cents two weeks ago which marked the first time the weekly average had dropped in more than a month, with gains of 3.3 cents, 2.2 cents 1 cent, and 0.4 cents, respectively, over the previous four weeks ahead of that decline.    

This week’s average price marks the sixth consecutive week the average has topped $2.90 per gallon, going back to the week of November 13, when it came in at $2.915.

Compared to the same week a year ago, this week’s diesel average is up 37.4 cents below last week’s annual spread of 41.7 cents. And the average prices of a barrel of West Texas Intermediate Crude oil on the New York Mercantile Exchange is  $57.16.