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rude oil prices fell for the first week in three weeks, as higher U.S. inventories reduced concerns that refineries won’t meet peak demand later this year, Bloomberg reported.

Motor fuel inventories were up 3% over a five-year average, Bloomberg said, and refineries last week boosted distillate production — a category that includes diesel — and cut gasoline output.

Benchmark light sweet crude oil dropped 74 cents to close at $53.54 a barrel on the New York Mercantile Exchange, Bloomberg said.

Gasoline futures also fell Friday, Bloomberg said, amid signs that stockpiles are higher than normal, Bloomberg said.

Diesel retail prices this week extended their record streak to 41 weeks in which they have been higher than gasoline prices. The previous record was 37 weeks, from August 1996 through May 1997.