Diesel prices up slightly for second week

By Tyson Fisher, Land Line staff writer | Tuesday, February 21, 2017

The average price of a gallon of on-highway diesel went up seven-tenths of a cent to $2.572 per gallon for the week ending Monday, Feb. 20. This marks the second consecutive increase after four straight weeks of decreases.

Diesel price averages went up in nine of 10 regions in the U.S., according to the Energy Information Administration. The largest average increase was in the Rocky Mountain region, where prices at the pump went up by 2.6 cents per gallon. Prices decreased by a penny in the New England region, the only decrease in the nation.

Following are the average prices by region as reported by the EIA:

  • U.S. – $2.572, up seven-tenths of a cent
  • East Coast – $2.628, up two-tenths of a cent
  • New England – $2.658, down 1.0 cent
  • Central Atlantic – $2.770, up five-tenths of a cent
  • Lower Atlantic – $2.521, up two-tenths of a cent
  • Midwest – $2.495, up eight-tenths of a cent
  • Gulf Coast – $2.433, up nine-tenths of a cent
  • Rocky Mountain – $2.548, up 2.6 cents
  • West Coast – $2.876, up seven-tenths of a cent
  • West Coast less California – $2.767, up six-tenths of a cent
  • California – $2.966, up nine-tenths of a cent

According to ProMiles, the average retail price at truck stops was $2.507 on Monday morning, a seven-tenths of a cent decrease from last week.

ProMiles, the software company that maintains the websites ProMiles.com and TruckMiles.com, continues to offer its own weekly fuel price information. The company’s fuel price data are presented in the same format used by the EIA in the agency’s weekly reports. The prices include a national average as well as regional averages, and comparisons to the previous week and the previous year.

A key difference between the EIA and ProMiles reporting is the type and number of fueling stations the company surveys in order to calculate its averages. While EIA surveys 400 truck stops and convenience stores nationwide, ProMiles uses its direct feed from thousands of truck stops to develop its averages.

TruckMiles.com listed the daily average price for Tuesday at $2.605, with truckers in Connecticut paying an average of $3.083 per gallon, the highest in the nation. Truckers in Missouri are paying a national low of $2.316 per gallon, according to the site. No states in the Lower 48 states have been listed in excess of $4 per gallon at the pump since Dec. 4, 2014. Only two states, Rhode Island and Connecticut, have average prices above $3, unchanged from last week. No states have reported average diesel prices below $2 since April 27, 2016.

AAA has indexed diesel prices at $2.513 for Tuesday, 53 cents more expensive than this time last year and 1.3 cents cheaper than a month ago.

In separate energy news, according to the New York Mercantile Exchange, light sweet crude (also known as West Texas Intermediate) for March delivery was trading at $54.34 at noon CDT on Tuesday, a $1.41 increase from last Monday and a 94-cent increase from its last settlement price. The price of Brent crude oil for April settlement was listed at $56.86, a $1.27 increase from last Monday and a $1.05 increase from its last settlement price.

According to Reuters, oil prices increased to nearly three-week highs on Tuesday after OPEC announced the production cut deal would remain intact and expects other producers to join its efforts.

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