Weekly diesel prices go right back up after a minor decrease

By Tyson Fisher, Land Line staff writer | Monday, November 27, 2017

The average price of a gallon of on-highway diesel went up 1.4 cents to $2.926 per gallon for the week ending Monday, Nov. 27. This marks the first increase after a short-lived decrease last week, which was preceded by five consecutive weeks of increases.

Diesel prices went up in nine of 10 regions in the United States, according to the Energy Information Administration. The largest average increase was in the Gulf Coast and Rocky Mountain regions, where prices at the pump went up 2.3 cents per gallon. Prices went down two-tenths of a cent in the California region, the only decrease in the nation.

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

  • U.S. – $2.926, up 1.4 cents
  • East Coast – $2.907, up 1.1 cents
  • New England – $2.881, up 1.9 cents
  • Central Atlantic – $3.074, up 1.9 cents
  • Lower Atlantic – $2.794, up five-tenths of a cent
  • Midwest – $2.884, up 1.1 cents
  • Gulf Coast – $2.712, up 2.3 cents
  • Rocky Mountain – $3.026, up 2.3 cents
  • West Coast – $3.38, up two-tenths of a cent
  • West Coast less California – $3.113, up six-tenths of a cent
  • California – $3.597, down two-tenths of a cent

According to ProMiles, the average retail price at truck stops was $2.884 on Monday morning, a 1.9-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 $2.949, with truckers in California paying an average of $3.611 per gallon, the highest in the nation. Truckers in South Carolina are paying a national low of $2.69 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. Thirteen states are reporting average prices above $3, one more than last week. No states have reported average diesel prices below $2 since April 27, 2016.

AAA has indexed diesel prices at $2.838 for Monday, 45.4 cents more expensive than this time last year and 10 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 January delivery was trading at $58.17 at noon CDT on Monday, a $2.08 increase from last Monday and a 78-cent decrease from its last settlement price. The price of Brent crude oil for January settlement was listed at $63.62, a $1.40 increase from last Monday and a 24-cent decrease from its last settlement price.

According to Reuters, oil priced dropped by 1 percent on Monday amid questions over whether or not Russia will join OPEC’s plans to extend the production cut deal that ends in March 2018. U.S. oil reached a two-year high last week after a pipeline from Canada was shut down.

 

 

Copyright © OOIDA

Comments