Diesel falls for the third straight week, reports EIA

The Department of Energy’s Energy Information Administration (EIA) reported this week that the average price per gallon of diesel gasoline dropped 0.7 cents to $2.572.

This is the third consecutive weekly decline, going back to the week of March 13, when it fell 1.5 cents from $2.579 per gallon to $2.564 per gallon. Last week, the average price dropped another 2.5 cents from $2.564 to $2.539. Including this week’s 0.7 cent decline, the average price has fallen a cumulative 3.2 cents over the last three weeks.

The recent run of declines was preceded by a five-week run of mini-gains, which saw from the week of February 6 to the week of March 6, with the average price seeing a cumulative 2.1 cent gain.

The average price per barrel of West Texas Intermediate Crude is at $48.27 on the New York Mercantile Exchange, with the price dropping in recent weeks due to high inventories.

Compared to the same week a year ago, the average price per gallon is up 41.1 cents.

The average price per barrel of West Texas Intermediate Crude is at $48.13 on the New York Mercantile Exchange, with the price dropping in recent weeks due to high inventories.