Fifth consecutive week of declining diesel prices

| Monday, June 02, 2014

The average price of a gallon of on-highway diesel decreased seven-tenths of a cent to $3.918 per gallon for the week ending Monday, June 2, according to the U.S. Energy Information Administration.

Diesel price averages fell in nine of 10 regions in the U.S., according to the EIA. The largest average decrease came in the Central Atlantic region, where prices at the pump went down by 1.1 cents per gallon. Prices remained unchanged in the Gulf Coast region.

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

  • U.S. – $3.918, down seven-tenths of a cent
  • East Coast – $4.013, down nine-tenths of a cent
  • New England – $4.124, down six-tenths of a cent
  • Central Atlantic – $4.116, down 1.1 cents
  • Lower Atlantic – $3.910, down six-tenths of a cent
  • Midwest – $3.874, down 1.0 cent
  • Gulf Coast – $3.783, no change
  • Rocky Mountain – $3.936, down 1.0 cent
  • West Coast – $4.021, down six-tenths of a cent
  • West Coast less California – $3.923, down six-tenths of a cent
  • California – $4.103, 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 $3.856 on Monday morning, a nine-tenths of a cent decrease from last week.

TruckMiles.com listed the daily average price for Monday at $3.908, with truckers in Connecticut paying an average of $4.411 per gallon, the highest in the nation. Truckers in Oregon are paying a national low of $3.642 per gallon, according to the site. Truckers in 11 of the Lower 48 states are paying in excess of $4 per gallon at the pump, the lowest count this year.

In separate energy news, according to the New York Mercantile Exchange, light sweet crude (also known as West Texas Intermediate) for July delivery was trading at $102.14 on Monday afternoon, a $1.90 decrease from last Monday and a 57 cent decrease from its last trading price. The price of Brent crude oil was listed at $108.74, a $1.44 decrease from last Monday and a 67 cent decrease from its last trading price.

According to Bloomberg, today’s drop in prices is due to OPEC’s increased production and Libya’s reopening of an export terminal. Brent is more sensitive to global supply-and-demand fluctuations since half of the world’s oil is priced on it, according to Bloomberg.

Copyright © OOIDA

Comments