U.S. average price of diesel goes up for first time in two months

By Land Line staff | 6/23/2014

The average price of a gallon of on-highway diesel increased 3.7 cents to $3.919 per gallon for the week ending Monday, June 23, according to the U.S. Energy Information Administration.

Diesel price averages went up in all 10 regions in the U.S., according to the EIA. The largest average increase came in the West Coast less California region, where prices at the pump went up by 7.0 cents per gallon. Prices went up 1.4 cents in the New England region, the smallest increase in the nation.

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

  • U.S. – $3.919, up 3.7 cents
  • East Coast – $3.985, up 2.4 cents
  • New England – $4.102, up 1.4 cents
  • Central Atlantic – $4.071, up 1.9 cents
  • Lower Atlantic – $3.893, up 3.0 cents
  • Midwest – $3.875, up 4.0 cents
  • Gulf Coast – $3.813, up 4.3 cents
  • Rocky Mountain – $3.913, up 2.1 cents
  • West Coast – $4.053, up 5.9 cents
  • West Coast less California – $3.973, up 7.0 cents
  • California – $4.119, up 5.0 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 $3.857 on Monday morning, a 3.9 cent increase from last week.

TruckMiles.com listed the daily average price for Monday at $3.919, with truckers in Connecticut paying an average of $4.411 per gallon, the highest in the nation. Truckers in Missouri are paying a national low of $3.690 per gallon, according to the site. Truckers in 13 of the Lower 48 states are paying in excess of $4 per gallon at the pump, five more than last week.

In separate energy news, according to the New York Mercantile Exchange, light sweet crude (also known as West Texas Intermediate) for August delivery was trading at $107.45 on Monday afternoon, a 47-cent increase from last Monday and a 62-cent increase from its last trading price. The price of Brent crude oil for August settlement was listed at $115.66, a $2.73 increase from last Monday and an 85-cent increase from its last trading price.

According to Bloomberg, the militant takeover of Iraq and potential spillover into bordering countries has been a major factor in the increased trading levels. This is the highest price for Brent crude since Sept. 9 of last year, according to Bloomberg.

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