The average cost of diesel fuel across the nation has decreased for the 10th week in a row, according to the latest figures from the Energy Information Administration (EIA), a division of the Department of Energy.
This week, from September 16, the national average price per gallon of diesel dropped by 2.9 cents to $3.526. This follows a decrease of 7 cents to $3.555 the previous week and a 2.6-cent drop to $3.625 the week before that.
The downward trend has been consistent, with the national average falling by 3.7 cents to $3.651 in the week of August 26, by 1.6 cents to $3.688 in the week of August 19, and by 5.1 cents to $3.704 in the week of August 12. The price has continued to decline, with drops of 1.3 cents to $3.755 in the week of August 5, 1.1 cents to $3.768 in the week of July 29, 4.7 cents to $3.779 in the week of July 22, and 3.9 cents to $3.826 in the week of July 15.
The last time diesel prices increased was in the week of July 8, when they rose by 5.2 cents to $3.865, as per EIA data. Over the past 10 weeks, the national average for diesel has seen a total reduction of 33.9 cents.
In comparison to the same week last year, the national average price has dropped by $1.107, which is a more significant decrease than the $0.985 and $0.867 annual reductions observed in the two previous weeks.
Currently, West Texas Intermediate (WTI) crude oil is being traded at $70.22 on the New York Mercantile Exchange.