The average price of a gallon of on-highway diesel went up by 3 cents from last week to $2.865 per gallon for the week ending Tuesday, Feb. 17. This marks the second consecutive week of increases after nearly three months of decreases.
Diesel price averages went up in 9 of 10 regions in the U.S., according to the Energy Information Administration. The largest average increase was in the California region, where prices at the pump went up by 8.1 cents per gallon. Prices went down six-tenths of a cent in the Rocky Mountain region, the only decrease in the nation.
Following are the average prices by region as reported by the EIA:
- U.S. – $2.865, up 3.0 cents
- East Coast – $2.960, up 3.0 cents
- New England – $3.084, up 4.5 cents
- Central Atlantic – $3.084, up 4.2 cents
- Lower Atlantic – $2.841, up 1.9 cents
- Midwest – $2.792, up 2.3 cents
- Gulf Coast – $2.783, up 2.2 cents
- Rocky Mountain – $2.770, down six-tenths of a cent
- West Coast – $2.997, up 7.3 cents
- West Coast less California – $2.817, up 6.1 cents
- California – $3.142, up 8.1 cents
According to ProMiles, the average retail price at truck stops was $2.796 on Monday morning, a 2.3 cent increase 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 $2.879, with truckers in Rhode Island paying an average of $3.509 per gallon, the highest in the nation. Truckers in Oregon are paying a national low of $2.586 per gallon, according to the site. For the 11th consecutive week, no states in the Lower 48 states are listed in excess of $4 per gallon at the pump. There are 37 states with prices below $3, one fewer than last week as prices are slowly climbing.
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 $53.28 on Tuesday at 2:00 P.M. CST, a 29-cent increase from last Monday and a 50-cent increase from its last trading price. The price of Brent crude oil for April settlement was listed at $62.40, a $3.99 increase from last Monday and an 88-cent increase from its last trading price.
According to Reuters, the spread between WTI and Brent hit nearly $9 a barrel, the largest spread since August 2014. AAA has indexed diesel prices at $2.835 for Tuesday, $1.126 cheaper than this time last year and 8.8 cents lower than a month ago.
Copyright © OOIDA