Upward trend continues nationwide for average diesel prices

By Land Line staff | 5/11/2015

The average price of a gallon of on-highway diesel went up by 2.4 cents from last week to $2.878 per gallon for the week ending Monday, May 11. This marks the fourth consecutive week of increases after five weeks of declining prices.

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 Midwest region, where prices at the pump went up by 3.3 cents per gallon. Prices went up by eight-tenths of a cent in the Rocky Mountain region, the smallest increase in the nation.

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

  • U.S. – $2.878, up 2.4 cents
  • East Coast – $2.997, up 1.9 cent
  • New England – $3.091, up 2.5 cents
  • Central Atlantic – $3.151, up 1.8 cents
  • Lower Atlantic – $2.860, up 1.6 cents
  • Midwest – $2.748, up 3.3 cents
  • Gulf Coast – $2.771, up 2.0 cents
  • Rocky Mountain – $2.772, up eight-tenths of a cent
  • West Coast – $3.139, up 2.7 cents
  • West Coast less California – $3.002, up 3.1 cents
  • California – $3.250, up 2.3 cents

According to ProMiles, the average retail price at truck stops was $2.800 on Monday morning, a 3.1 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 $2.881, with truckers in Connecticut paying an average of $3.507 per gallon, the highest in the nation. Truckers in Indiana are paying a national low of $2.568 per gallon, according to the site. For the 23rd 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, 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 June delivery was trading at $59.26 on Monday afternoon, a 33-cent increase from last Monday and a 13-cent decrease from its last trading price. The price of Brent crude oil for June settlement was listed at $64.93, a $1.52 decrease from last Monday and a 46-cent decrease from its last trading price.

According to Bloomberg, the drop in prices is due to the assumption that there will continue to be a significant surplus in global oil supplies. AAA has indexed diesel prices at $2.851 for Monday, $1.093 cheaper than this time last year and 6.1 cents higher than a month ago.

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