Diesel prices head are down for fifth straight week, reports EIA

Diesel prices fell for the fifth straight week, according to data issued by the Department of Energy’s Energy Information Administration (EIA) this week.

At $2.843, the average price per gallon was down 1.6 cents, following last week’s 1.1 cent drop and a cumulative 7.1 cent cumulative drop over the last five weeks.

Prior to this four-week stretch of weekly declines, prices had headed up for four consecutive weeks, which saw prices top $2.90 per gallon each week.

The average price of a barrel of oil on the New York Mercantile Exchange was $53.3 at press time, which is its lowest level going back to January.