Diesel prices fall after first gain in six weeks

Following its first increase in six weeks last week, the average price per gallon of diesel fell again this week, according to data issued by the Department of Energy’s Energy Information Administration (EIA).

The average price per gallon slid 0.7 cents to $2.564 per gallon after last week’s 3.2 cent gain, which followed declines of 0.5 cents, 2.1 cents, 1.8 cents, 1.2 cents, and 0.2 cents over the previous five weeks for a cumulative 5.8 cent decline going back to the week of April 17.

Compared to the same week a year ago, the average price per gallon was up 15.7 cents, which was lower than the last two weeks at 18.9 cents and 18.2 cents, respectively.

WTI crude is currently trading at $47.63 on the New York Mercantile Exchange.