Following three weeks of declines, the national average price per gallon of diesel gasoline saw a significant increase, for the week of May 4, according to data issued by the Department of Energy’s Energy Information Administration (EIA).
The national average price per gallon, at $5.640, rose 28.9 cents sequentially (its largest sequential increase since the week of March 16, when it increased 0.21), following a 5.2-cent decline, to $5.351, for the week of April 27 and a 20.5-cent decline, to $5.403, for the week of April 20, 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.
This week’s average price marks the highest in any week since 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.
For the week of April 6, the national average rose 3.5 cents to $5.643. Prior to that, the national average, for the week of March 30, came in at $5.401, with the week of March 23 at 5.375. The average price per gallon, for the week of March 16, was $5.071, topping the week ending March 9, at $4.859. What’s more, prior to the last five weeks, the last time the national diesel average topped the $5 per gallon mark was the week of November 28, 2022, when it was at $5.141 per gallon.
Before that, the national average, for the week of March 2, was up 8.8 cents, to $3.897, following a 9.8-cent gain, to $3.809, for the week of February 23—which marked the previously highest weekly gain since a 9.4-cent increase, to $3.50, for the week of January 26, prior to this week. This was preceded by a 2.3-cent gain, to $3.711, for the week of February 16, and 0.007-cent increase, to $3.688, for the week of February 9.
WTI crude is currently trading at $101.72 on the New York Mercantile Exchange, up from $99.76 a week ago at this time.
