Diesel prices go down after four weeks of going up

By Tyson Fisher, Land Line staff writer | Monday, March 13, 2017

The average price of a gallon of on-highway diesel went down 1.5 cents to $2.564 per gallon for the week ending Monday, March 13. This marks the first decrease after four straight weeks of increases.

Diesel price averages went down in all 10 regions in the U.S., according to the Energy Information Administration. The largest average decrease was in the West Coast less California region, where prices at the pump went down by 4.3 cents per gallon. Prices decreased by eight-tenths of a cent in the Rocky Mountain region, the smallest decrease in the nation.

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

  • U.S. – $2.564, down 1.5 cents
  • East Coast – $2.617, down 1.6 cents
  • New England – $2.628, down 1.8 cents
  • Central Atlantic – $2.761, down 1.9 cents
  • Lower Atlantic – $2.512, down 1.3 cents
  • Midwest – $2.491, down 1.1 cents
  • Gulf Coast – $2.419, down 1 cent
  • Rocky Mountain – $2.617, down eight-tenths of a cent
  • West Coast – $2.846, down 3.1 cents
  • West Coast less California – $2.736, down 4.3 cents
  • California – $2.936, down 2 cents

According to ProMiles, the average retail price at truck stops was $2.512 on Monday morning, a 1.2-cent drop 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 Monday at $2.585, with truckers in Rhode Island paying an average of $2.959 per gallon, the highest in the nation. Truckers in Missouri are paying a national low of $2.333 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. For the first time this year, no states have reported average prices above $3. No states have reported average diesel prices below $2 since April 27, 2016.

AAA has indexed diesel prices at $2.52 for Monday, 46.4 cents more expensive than this time last year and 1.3 cents higher 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 April delivery was trading at $48.47 at noon CDT on Monday, a $4.73 decrease from last Monday and a 2-cent decrease from its last settlement price. The price of Brent crude oil for May settlement was listed at $51.46, a $44.55 decrease from last Monday and a 9-cent increase from its last settlement price.

According to Reuters, oil prices on Monday moved little after reaching a three-month low. Prices began dropping last week as investors have started to worry about OPEC’s attempt to curb the oil glut while U.S. inventories continue to rise.

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