Fuel prices begin slowing down in the hurricane aftermath

By Tyson Fisher, Land Line staff writer | Monday, September 18, 2017

The average price of a gallon of on-highway diesel went down 1.6 cents to $2.786 per gallon for the week ending Monday, Sept. 18. This marks the first decrease after three weeks of increases.

Diesel price averages went down in six of 10 regions in the U.S., according to the Energy Information Administration. The largest average decrease was in the Gulf Coast region, where prices at the pump went down by 3.2 cents per gallon. Prices went up four-tenths of a cent in the New England region, the largest increase in the nation.

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

  • U.S. – $2.786, down 1.6 cents
  • East Coast – $2.814, down 1.5 cents
  • New England – $2.765, up four-tenths of a cent
  • Central Atlantic – $2.919, down three-tenths of a cent
  • Lower Atlantic – $2.749, down 2.7 cents
  • Midwest – $2.743, down 1.0 cent
  • Gulf Coast – $2.615, down 3.2 cents
  • Rocky Mountain – $2.813, down 1.4 cents
  • West Coast – $3.103, up one-tenths of a cent
  • West Coast less California – $3.009, up two-tenths of a cent
  • California – $3.179, unchanged

According to ProMiles, the average retail price at truck stops was $2.758 on Monday morning, a seven-tenths of a cent decrease 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 $2.810, with truckers in Pennsylvania paying an average of $3.261 per gallon, the highest in the nation. Truckers in Oklahoma are paying a national low of $2.541 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. Five states are reporting average prices above $3, unchanged from last week. No states have reported average diesel prices below $2 since April 27, 2016.

AAA has indexed diesel prices at $2.719 for Monday, 36.2 cents more expensive than this time last year and 19.1 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 October delivery was trading at $49.78 at noon CDT on Monday, a $1.71 increase from last Monday and an 11-cent decrease from its last settlement price. The price of Brent crude oil for November settlement was listed at $55.42, a $1.58 increase from last Monday and a 20-cent decrease from its last settlement price.

According to MarketWatch, oil prices on Monday dropped after a 5 percent gain last week as investors wait for news of an extension on OPEC’s production cut deal and expect a report of reduced production in U.S. oil later this week.

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