Diesel prices fall after two weeks of increases

By Land Line staff | 5/5/2014

The average price of a gallon of on-highway diesel decreased 1.1 cents to $3.964 per gallon for the week ending Monday, May 5, according to the U.S. Energy Information Administration.

Diesel price averages fell in all 10 regions in the U.S., according to the EIA. The largest average decrease came in the New England Region, where prices at the pump went down by 2.7 cents per gallon. Prices decreased in the Rocky Mountain Region by four-tenths of a cent, the lowest decrease.

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

  • U.S. – $3.964, down 1.1 cents
  • East Coast – $4.055, down one cent
  • New England – $4.181, down 2.7 cents
  • Central Atlantic – $4.176, down nine-tenths of a cent
  • Lower Atlantic – $3.940, down nine-tenths of a cent
  • Midwest – $3.935, down 1.2 cents
  • Gulf Coast – $3.813, down 1.1 cents
  • Rocky Mountain – $3.978, down four-tenths of a cent
  • West Coast – $4.046, down nine-tenths of a cent
  • West Coast less California – $3.944, down one cent
  • California – $4.132, down eight-tenths of a cent

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.

According to ProMiles, the average retail price at truck stops was $3.901 on Monday morning, a 1.6 cent decrease from last week.

TruckMiles.com listed the daily average price for Monday at $3.956, with truckers in Connecticut paying an average of $4.465 per gallon, the highest in the nation. Truckers in Oregon are paying only $3.634 per gallon, according to the site. Truckers in 16 of the Lower 48 states are paying in excess of $4 per gallon at the pump.

In separate energy news, according to the New York Mercantile Exchange, light sweet crude (also known as West Texas Intermediate) for June delivery was trading at $99.14 on Monday afternoon, a $1.87 decrease from last Monday and a 62 cent decrease from its last trading price. The price of Brent crude oil was listed at $107.23, a $2.87 decrease from last Monday and a $1.36 decrease from its last trading price. According to Bloomberg, the price decrease of Brent crude was a result of news that Chinese manufacturing declined for a fourth month in April.

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