Diesel prices head down for eighth straight week, reports EIA

The average price per gallon of diesel gasoline fell for the eighth consecutive week, according to data issued by the Department of Energy’s Energy Information Administration (EIA).

Falling 3.2 cents to $2.782 per gallon, diesel prices have fallen a cumulative 12.7 cents over this period from the week of June 1 through July 20.  Prior to this eight-week stretch of weekly declines, prices had headed up for four consecutive weeks, which saw prices top $2.90 per gallon each week.

This weeks-long decline in prices is the longest in all of 2015 and also the second longest since the week of November 10, 2014-February 2, 2015, a 12-week period that saw prices decline a cumulative decline of 79.2 cents. 

What’s more, this week marks the lowest average price for diesel going back to the week of April 20, when it was at $2.78 per gallon.

Compared to the same week in 2014, diesel is down $1.087 cents.

The average price per barrel of oil is trading at $50.75 on the New York Mercantile Exchange.