Average diesel prices reach 32-month high

By Tyson Fisher, Land Line staff writer | Monday, November 13, 2017

The average price of a gallon of on-highway diesel went up 3.3 cents to $2.915 per gallon for the week ending Monday, Nov. 13. This marks the fifth consecutive increase after one week of decreases and the highest prices since March 9, 2015, when diesel was $2.944.

Diesel prices went up in all 10 regions in the United States, according to the Energy Information Administration. The largest average increase was in the California, where prices at the pump went up 6.9 cents per gallon. Prices went up 2.3 cents in the Midwest region, the smallest increase in the nation.

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

  • U.S. – $2.915, up 3.3 cents
  • East Coast – $2.884, up 3.6 cents
  • New England – $2.85, up 3.8 cents
  • Central Atlantic – $3.018, up 4.3 cents
  • Lower Atlantic – $2.795, up 3.1 cents
  • Midwest – $2.884, up 2.3 cents
  • Gulf Coast – $2.697, up 2.9 cents
  • Rocky Mountain – $2.992, up 2.7 cents
  • West Coast – $3.39, up 5.8 cents
  • West Coast less California – $3.12, up 4.5 cents
  • California – $3.61, up 6.9 cents

According to ProMiles, the average retail price at truck stops was $2.873 on Monday morning, a 2.6-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 $2.941, with truckers in California paying an average of $3.632 per gallon, the highest in the nation. Truckers in Mississippi are paying a national low of $2.668 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. Fourteen states are reporting average prices above $3, one more than last week. This is the highest number of states about $3 per a gallon since June 2015. No states have reported average diesel prices below $2 since April 27, 2016.

AAA has indexed diesel prices at $2.828 for Monday, 42.5 cents more expensive than this time last year and 10.2 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 December delivery was trading at $56.85 at noon CDT on Monday, a 50-cent decrease from last Monday and an 11-cent increase from its last settlement price. The price of Brent crude oil for January settlement was listed at $63.26, a $1.01 decrease from last Monday and a 26-cent decrease from its last settlement price.

According to Reuters, oil prices experienced minimal movement on Monday amid mixed signals. Tensions in the Middle East and a possible extension on the OPEC production cut deal supported an increase in prices. However, that upward movement was tethered by the continuing increase in U.S. oil production.

 

 

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