National diesel average heads up for ninth consecutive week, reports EIA

The national average price per gallon for diesel gasoline saw an increase for the ninth consecutive week, according to data issued this week by the Department of Energy’s Energy Information Administration (EIA).

For the week of June 21, the national diesel average increased $0.013-cents, to $3.300 per gallon, topping the weeks ending June 21, June 14, and June 7, at $3.287, $3.286, and $3.274, respectively.

Compared to the same week a year ago, this week’s national average is up 87 cents, topping the annual spread of 86.2 cents, for the week of June 21.

The national average topped the $3 per gallon mark for the 17th 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 $73.59 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.   

Source: https://www.logisticsmgmt.com/article/national_diesel_average_heads_up_for_ninth_consecutive_week_reports_eia