Average diesel prices go up more than three cents

By Land Line staff | 3/2/2015

The average price of a gallon of on-highway diesel went up by 3.6 cents from this past week to $2.936 per gallon for the week ending Monday, March 2. This marks the fourth consecutive week of increases after nearly three months of decreases.

Diesel price averages went up in all 10 regions in the U.S., according to the Energy Information Administration. The largest average increase was in the Central Atlantic region, where prices at the pump went up by 13.3 cents per gallon. Prices went down one-tenth of a cent in the Gulf Coast region, the smallest increase in the nation.

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

  • U.S. – $2.936, up 3.6 cents
  • East Coast – $3.083, up 7.8 cents
  • New England – $3.291, up 11.8 cents
  • Central Atlantic – $3.293, up 13.3 cents
  • Lower Atlantic – $2.880, up 2.7 cents
  • Midwest – $2.850, up 2.4 cents
  • Gulf Coast – $2.796, up one-tenth of a cent
  • Rocky Mountain – $2.779, up 1.7 cents
  • West Coast – $3.097, up 3.2 cents
  • West Coast less California – $2.934, up 4.5 cents
  • California – $3.229, up 2.1 cents

According to ProMiles, the average retail price at truck stops was $2.862 on Monday morning, a 3.0 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 Monday at $2.947, with truckers in Rhode Island paying an average of $3.589 per gallon, the highest in the nation. Truckers in Montana are paying a national low of $2.640 per gallon, according to the site. For the 13th consecutive week, no states in the Lower 48 states are listed in excess of $4 per gallon at the pump. There are 36 states with prices below $3, unchanged from last week.

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 $50.58 on Monday at noon CST, a $1.13 increase from last Monday and an 82-cent increase from its last trading price. The price of Brent crude oil for April settlement was listed at $60.69, a $1.79 increase from last Monday and a $1.89 decrease from its last trading price.

According to Bloomberg, the price difference between WTI and Brent oil is the largest since January 2014. AAA has indexed diesel prices at $2.910 for Monday, $1.094 cheaper than this time last year and 11.3 cents more expensive than a month ago.

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