Diesel prices decrease for third consecutive week

By Land Line staff | 5/19/2014

The average price of a gallon of on-highway diesel decreased 1.4 cents to $3.934 per gallon for the week ending Monday, May 19, 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 Central Atlantic and Midwest regions, where prices at the pump went down by 2 cents per gallon. Prices decreased in the West Coast less California region by five-tenths of a cent, the lowest decrease.

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

  • U.S. – $3.934, down 1.4 cents
  • East Coast – $4.027, down 1.4 cents
  • New England – $4.139, down 1.8 cents
  • Central Atlantic – $4.136, down 2 cents
  • Lower Atlantic – $3.919, down eight-tenths of a cent
  • Midwest – $3.901, down 2 cents
  • Gulf Coast – $3.791, down six-tenths of a cent
  • Rocky Mountain – $3.954, down 1.6 cents
  • West Coast – $4.025, down 1.1 cents
  • West Coast less California – $3.922, down five-tenths
  • California – $4.110, down 1.6 cents

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 $3.873 on Monday morning, a 1.2 cent decrease from last week.

TruckMiles.com listed the daily average price for Monday at $3.928, with truckers in Connecticut paying an average of $4.411 per gallon, the highest in the nation. Truckers in Oregon are paying $3.617 per gallon, according to the site. Truckers in 14 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 $102.94 on Monday afternoon, a $2.65 increase from last Monday and a 92 cent increase from its last trading price. June futures expire tomorrow. The price of Brent crude oil was listed at $109.61 and has already begun its July settlement. According to Bloomberg, the four-week high for WTI oil is in response to a declining inventory at Cushing, Okla., for the 15th time in 16 weeks. The price fluctuation for Brent crude is a reaction to concerns that Libya’s supplies will continue to be disrupted, according to Bloomberg.

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