National diesel average sees another slight decline, reports EIA

The national average price per gallon of diesel gasoline saw a very slight decrease, for the week of August 16, according to data issued this week by the Department of Energy’s Energy Information Administration (EIA).

With a 0.008-cent decrease, the weekly average came in at $3.356 per gallon, following a 0.003-cent decrease, to $3.364, for the week of August 9. Those two consecutive weeks of minimal decreases were preceded by a 2.5-cent increase, to $3.367, for the week of August 2, which was preceded by a 0.02-cent decline, to $3.342, for the week of July 26, the first decline it saw in 12 weeks, at the time.

Compared to the same week a year ago, this week’s national average is up 92.9 cents, trailing the 93.6-cent annual spread, for the week of August 9.

The national average again topped the $3 per gallon mark for the 20h consecutive week, going back to the week of March 1, when it came in at $3.072 per gallon. And before the week of March 1, the national average had been below the $3 per gallon mark since the week of February 2, 2020, when it posted an average of $2.956. 

West Texas Intermediate Crude oil is currently trading at $66.77 on the New York Mercantile Exchange.

In its Short-Term Energy Outlook, the EIA is pegging the average price per gallon of diesel to come in at $2.97 in 2021, with 2022 forecasted at $2.92. For WTI Crude, it is calling for the 2021 average to be $58.91, with 2022 at $56.99.