Overview of the October decline

The national average price per gallon of diesel fell for the week of October 6, dropping 4.3 cents to $3.711, reversing gains recorded in the two prior weeks, according to data released this week by the Department of Energy’s Energy Information Administration (EIA).

Week-by-week movement from late September to early October

The EIA data show the sequence of weekly changes leading into the October 6 reading:

• Week of October 6: fell 4.3 cents, to $3.711
• Week of September 29: increased by $0.005-cent, to $3.754
• Week of September 22: increased by a a $0.01-cent, to $3.749
• Week of September 15: declined 2.7 cents, to $3.739
• Week of September 8: rose 3.2 cents, to $3.7666
• Week of September 1: increased 2.6 cents, to $3.734 and hit its highest weekly average since the week of July 28 at $3.805

Late August declines detailed

The series of decreases through late August were reported as follows:

• Week of August 25: fell $0.005, to $3.708
• Week of August 18: declined 4.1 cents, to $3.713
• Week of August 11: declined 4.6 cents, to $3.754
• Week of August 4: fell 0.005-cent, to $3.800
• Week of July 28: decreased 0.007-cent, to $3.805

Mid- to late-July price moves

Earlier movements in July and late June included both increases and a decline:

• Week of July 21: increased 5.4 cents, to $3.812
• Week of July 14: rose 1.9 cents, to $3.758
• Week of July 7: climbed 1.2 cents, to $3.739
• Week of June 30: fell 4.8 cents, to $3.727

Annual comparison and crude oil benchmark

On a year-over-year basis the national diesel average rose 12.7 cents, a smaller annual increase than the 21-cent rise recorded in last week’s data.

Meanwhile, West Texas Intermediate (WTI) crude was trading at $61.49 on the New York Mercantile Exchange at the time of the report, down from $62.62 a week earlier.

Data source and reporting context

All figures are drawn from the Department of Energy’s Energy Information Administration weekly price data. The EIA’s release provides the weekly national average price per gallon for diesel and notes changes in crude oil benchmarks that can influence fuel prices.