Diesel down half a cent nationwide; nearly 7 cents cheaper than 2015

By Land Line staff | 4/4/2016

The average price of a gallon of on-highway diesel dipped by more than half a cent to $2.115 for the week ending Monday, April 4, according to the latest numbers from the Energy Information Administration. The decrease of six-tenths of a cent comes after prices had risen for six consecutive weeks.

While prices were down on average nationally, six of the 10 regions in the U.S. actually saw minor increases to prices at the pump last week. The largest average increase was in the Rocky Mountain region, where prices at the pump rose by 2.9 cents per gallon. Prices were down 1.8 cents in the Gulf Coast region, the largest decrease in the nation.

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

  • U.S. – $2.115, down six-tenths of a cent
  • East Coast – $2.179, no change
  • New England – $2.243, up two-tenths of a cent
  • Central Atlantic – $2.296, up four-tenths of a cent
  • Lower Atlantic – $2.077, down four-tenths of a cent
  • Midwest – $2.065, down 1.2 cents
  • Gulf Coast – $1.983, down 1.8 cent
  • Rocky Mountain – $2.213, up 2.9 cents
  • West Coast – $2.317, up two-tenths of a cent
  • West Coast less California – $2.179, up two-tenths of a cent
  • California – $2.426, up one-tenth of a cent

According to ProMiles, the average retail price at truck stops was $2.138 on Monday morning, a 5.1 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 $2.138, with truckers in Rhode Island paying an average of $2.489 per gallon, the highest in the nation. Truckers in Oregon are paying a national low of $1.904 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. All 48 states in the contiguous U.S. have average prices below $3. A total of 9 states are reporting prices below $2, an increase of one from last week.

In separate energy news, according to the New York Mercantile Exchange, light sweet crude (also known as West Texas Intermediate) for May delivery was trading at $36.52 at noon CDT on Monday, a $1.87 decrease from last week and a four-cent decrease from its last trading price. The price of Brent crude oil for May settlement was listed at $37.60, a $1.68 decrease from last Monday and a $1.07 decrease from its last trading price.

According to Reuters, oil prices decreased more than 2 percent Monday as investors continue to doubt that producing countries will freeze output. AAA has indexed diesel prices at $2.101 for Monday, 71.4 cents cheaper than this time last year and 11.5 cents higher than a month ago.

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