The average price of a gallon of on-highway diesel went up two-tenths of a cent to $2.903 per gallon for the week ending Monday, Dec. 25. This marks the first increase after three weeks of decreases.
Diesel prices went up in six of 10 regions in the United States, according to the Energy Information Administration. The largest average increase was in the New England region, where prices at the pump went up 1.9 cents per gallon. Prices went down 1.8 cents in the West Coast less California region, the largest decrease in the nation.
Following are the average prices by region as reported by the EIA:
- U.S. – $2.903, up two-tenths of a cent
- East Coast – $2.904, up seven-tenths of a cent
- New England – $2.943, up 1.9 cents
- Central Atlantic – $3.068, up eight-tenths of a cent
- Lower Atlantic – $2.782, up four-tenths of a cent
- Midwest – $2.854, up one-tenth of a cent
- Gulf Coast – $2.708, up 1.1 cents
- Rocky Mountain – $2.948, down 1 cent
- West Coast – $3.312, down 1.5 cents
- West Coast less California – $3.026, down 1.8 cents
- California – $3.539, down 1.3 cents
According to ProMiles, the average retail price at truck stops was $2.852 on Monday morning, unchanged 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 Wednesday at $2.948, with truckers in California paying an average of $3.617 per gallon, the highest in the nation. Truckers in Oklahoma are paying a national low of $2.663 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. Fifteen states are reporting average prices above $3, four more than last week. No states have reported average diesel prices below $2 since April 27, 2016.
AAA has indexed diesel prices at $2.836 for Wednesday, 36.4 cents more expensive than this time last year and two-tenths of a cent cheaper 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 February delivery was trading at $59.49 at noon CDT on Monday, a $1.40 increase from last Wednesday and a 48-cent decrease from its last settlement price. The price of Brent crude oil for February settlement was listed at $66.40, a $1.84 increase from last Wednesday and a 62-cent decrease from its last settlement price.
According to Reuters, oil prices began to slow down on Wednesday after nearly reaching two-and-a-half year highs on Tuesday. Supply outages in Libya and the North Sea were largely responsible for the price surge, losing steam during Wednesday’s trading session.
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