Diesel prices rise for the first time in four weeks, reports EIA

The average price per gallon for diesel gasoline headed up for the first time in four weeks, according to the Department of Energy’s Energy Information Administration (EIA).

At $2.502 per gallon, the average price was up 1.7 cents, following three weeks of declines for a cumulative 7.1 cent decrease during that period.

On an annual basis, the average price per gallon is down $1.175.

While diesel was up for the first time in a month, oil prices continued to trend down and were trading at $43.96 per barrel on the New York Mercantile Exchange at press time.

A MarketWatch report cited the World Energy Outlook by the International Energy Agency indicating that a said “a lasting switch in OPEC production strategy in favor of securing a higher share of the oil market mix” could keep the price of Brent crude at around $50 a barrel to the end of the decade, adding thayt under a more bullish scenario, the IEA said oil could rebound to around $80 a barrel by 2020 as the oversupplied market begins to balance.