The national average price per gallon of diesel gasoline for the fourth consecutive week, according to data issued today by the Department of Energy’s Energy Information Administration (EIA).
The national average price per gallon, for the week of June 1, declined 17.3 cents, to $5.350, marking the steepest weekly decline since the week of April 20, when the national average fell from $5.608 to $5.403, for the largest weekly decline in more than three years, according to EIA data.
Prior to that, the national average price per gallon, for the week of May 25, at $5.523 per gallon, fell 7.3 cents compared to the week of May 18, which came in at $5.596, and was off 4.3 cents compared to the week of May 11, at $5.639. which eked out a $0.001-cent sequential gain. That followed a 28.9-cent cent sequential gain, for the week of May 4, when it came in at $5.640, which represented the largest sequential increase since the week of March 16, when it increased $0.21.
For the week of April 27, the national average decreased 5.2 cents, to $5.351, and for the week of April 20, it fell 20.5 cents, to $5.403, marking the highest weekly decline, since the week of December 22, 2008, when it fell 24.5 cents, and a 3.5-decline decline to $5.608, for the week of April 13.
Prior to the week of May 4, the highest average price in any week since came during the week of May 9, 2022, when it was at $5.623 per gallon. Prices continue to remain elevated, due to the launched joint strikes by the United States and Israel, in an initiative geared towards halting Iran’s development of nuclear weapons.
On an annual basis, the national average, for the week of June 1, is up $1.899. And the average price per barrel of WTI crude is trading at $91.92.
While the average price per gallon fell this week, it remains elevated, as has been the case going back to the beginning of the Iran conflict in late February.
