National diesel average sees a mild gain, for the week of August 21, reports EIA

Following a four-week stretch that saw the national average price per gallon of diesel gasoline rise a cumulative 57.2 cents, the national diesel average was up, for the week of August 21, but at a reduced rate, according to data issued this week by the Department of Energy’s Energy Information Administration (EIA).

With a 1.1-cent increase, the national average came in at $4.389 per gallon. This followed significant gains seen in previous weeks, including: 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.

Prior to the week of August 21, EIA data observed the last time the weekly average saw gains for even two consecutive weeks, prior to that four-week stretch, were the weeks of January 23 and January 30, for a cumulative 9.8-cent increase.

The last five weeks of gains were preceded by two weeks of flat national averages, at $3.806, for the weeks of July 7 and July 14, respectively. For the week of July 3, the national average fell 3.4 cents, to $3.767.

Prior to the 3.4-cent decline, for the week of July 3, the national average fell 1.4-cents to $3.801, for the week of June 26, which was preceded by matching 0.003-cent declines, for the weeks of June 12 and June 19, to $3.794 and $3.815, respectively. That was preceded by a 5.8-cent decline, for the week of June 5, to $3.797, which was preceded by a 2.8-cent decline to $3.855 per gallon, for the week of May 29, a 1.4-cent decline, to $3.883, for the week of May 22, a 2.5-cent decline, to $3.897 per gallon, for the week of May 15 and a 9.6-cent decline, to $3.922, for the week of May 8, which represented its largest weekly decline since a 9.5-cent drop to $4.444, for the week of February 13.

The national average is down 52.0 cents annually, below the 53.3-cent decrease recorded for the week of August 14. WTI crude oil is trading at $80.77 on the New York Mercantile Exchange.