Diesel average hits $4 for first time since March 2013

By David Tanner, Land Line associate editor | 2/10/2014

ProMiles showed the national average price for on-highway diesel at $4 a gallon on Monday, Feb. 10. It’s the first time diesel has averaged $4 since March of 2013.

ProMiles surveys more than 9,400 fueling stations daily, showing Monday’s average at $4.001, up half a cent over the weekend. Connecticut had the highest pump price by state at $4.632 while Oklahoma and Missouri had the lowest at just above $3.70 per gallon.

A weekly survey conducted by the U.S. Energy Information Administration, lagged behind the ProMiles numbers, showing an average of $3.977 for the past seven days.

The EIA showed major upticks in regional averages. The Central Atlantic region, for example, showed a gain of more than 8 cents for the week.

The increase is likely driven by the cold weather and a shortage of home heating oil, which is distilled from the same oil supplies that produce diesel fuel.

Following are the regional averages for the past week as reported by the EIA:

  • U.S. – $3.977, up 2.6 cents
  • East Coast – $4.116, up 4.6 cents
  • New England – $4.369, up 6.4 cents
  • Central Atlantic – $4.363, up 8.2 cents
  • Lower Atlantic – $3.884, up 1.6 cents
  • Midwest – $3.969, up 2.7 cents
  • Gulf Coast – $3.788, up 1.3 cents
  • Rocky Mountain – $3.868, up eight-tenths of a cent
  • West Coast – $3.998, up four-tenths of a cent
  • West Coast less California – $3.901, down one-tenth of a cent
  • California – $4.080, up eight-tenths of a cent.

Crude oil on the New York Mercantile Exchange topped $100 a barrel on Monday, with a high as of midday around $100.47. European Brent Crude was down 59 cents a barrel over the weekend to $108.98.

Copyright © OOIDA