Nationwide diesel common sees one other slight decline, studies EIA

The nationwide common value per gallon of diesel gasoline noticed a really slight lower, for the week of August 16, in accordance with knowledge issued this week by the Division of Power’s Power Info Administration (EIA).

With a 0.008-cent lower, the weekly common got here in at $3.356 per gallon, following a 0.003-cent lower, to $3.364, for the week of August 9. These two consecutive weeks of minimal decreases had been preceded by a 2.5-cent improve, to $3.367, for the week of August 2, which was preceded by a 0.02-cent decline, to $3.342, for the week of July 26, the primary decline it noticed in 12 weeks, on the time.

In comparison with the identical week a 12 months in the past, this week’s nationwide common is up 92.9 cents, trailing the 93.6-cent annual unfold, for the week of August 9.

The nationwide common once more topped the $3 per gallon mark for the 20h consecutive week, going again to the week of March 1, when it got here in at $3.072 per gallon. And earlier than the week of March 1, the nationwide common had been beneath the $3 per gallon mark because the week of February 2, 2020, when it posted a mean of $2.956. 

West Texas Intermediate Crude oil is at present buying and selling at $66.77 on the New York Mercantile Trade.

In its Brief-Time period Power Outlook, the EIA is pegging the typical value per gallon of diesel to come back in at $2.97 in 2021, with 2022 forecasted at $2.92. For WTI Crude, it’s calling for the 2021 common to be $58.91, with 2022 at $56.99.