Diesel prices decrease for second consecutive week

By Land Line staff | 5/13/2014

The average price of a gallon of on-highway diesel decreased 1.6 cents to $3.948 per gallon for the week ending Monday, May 12, 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 2.4 cents per gallon. Prices decreased in the California Region by six-tenths of a cent, the lowest decrease.

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

  • U.S. – $3.948, down 1.6 cents
  • East Coast – $4.041, down 1.4 cents
  • New England – $4.157, down 2.4 cents
  • Central Atlantic – $4.156, down 2 cents
  • Lower Atlantic – $3.927, down 1.3 cents
  • Midwest – $3.921, down 1.4 cents
  • Gulf Coast – $3.797, down 1.6 cents
  • Rocky Mountain – $3.970, down eight-tenths of a cent
  • West Coast – $4.036, down one cent
  • West Coast less California – $3.928, down 1.6 cents
  • California – $4.126, down six-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 $3.885 on Monday morning, a 1.6 cent decrease from last week.

TruckMiles.com listed the daily average price for Monday at $3.942, with truckers in Connecticut paying an average of $4.445 per gallon, the highest in the nation. Truckers in Oregon are paying only $3.593 per gallon, according to the site. Truckers in 17 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 $100.29 on Monday afternoon, a $1.15 increase from last Monday and a 30 cent increase from its last trading price. The price of Brent crude oil was listed at $108.77, a $1.54 increase from last Monday and an 88 cent increase from its last trading price. According to Bloomberg, the price decrease of Brent crude was in response to a vote in the Ukraine by Pro-Russian groups to secede, prompting concerns that oil supplies from Russia may be affected. Russia is the world’s biggest energy exporter. WTI prices increased after hedge funds cut wagers, according to Bloomberg.

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