National diesel average sees largest weekly gain since August, reports EIA

The national average price per gallon of diesel gasoline saw its second gain over the last five weeks, for the week of October 23, according to data issued today by the Department of Energy’s Energy Information Administration (EIA).

The national average price per gallon headed up 10.1 cents, to $4.545 per gallon, marking the highest increase since a 13.9-cent increase, to $4.378, for the week of August 14.

Prior to the week of October 23, the national average price per gallon had fallen a collective 18.9 cents.  

With a 5.4-cent decrease, the national average, for the week of October 16, was $4.444 per gallon, following a 9.5-cent increase, to $4.498 per gallon, for the week of October 9, and a slight 0.007-cent increase, to $4.593, for the week of October 2, and a 4.7-cent decline, to $4.586, for the week of September 25.

The decline, for the week of September 25, was the first weekly decline going back to the week of July 24, a ten-week stretch, which saw the national average rise 87.2 cents over that period.  

In previous weeks leading up to the week of September 25, the national average saw a 9.3-cent increase, to $4.633 per gallon, for the week of September 18, and a 4.8-cent increase, for the week of September 11, to $4.50 per gallon.

This followed a 1.7-cent increase, to $4.492 per gallon for the week of September 4, an 8.6-cent increase, to $4.475, for the week of August 28, followed a 1.1-cent increase to $4.389 per gallon, for the week of August 21, a 13.9-cent increase to $4.378 per gallon, for the week of August 14 an 11.2-cent gain to $4.239 per gallon, for the week of August 7; a 22.2-cent increase, for the week of July 31, which represented the single largest weekly gain since a 40.1-cent increase, for the week of March 14, 2022; and a 9.9-cent increase, to $3.905, for the week of July 24, which now marks the third-largest weekly increase going back to the week of March 14, 2022.

Compared to the same week a year ago, the national average was down 79.6 cents, below the 89.5-cent decrease a week ago at this time. The average price per barrel of WTI crude is currently trading at $85.62 per barrel on the New York Mercantile Exchange.