Diesel prices drop for fourth consecutive week

By Land Line staff | Monday, July 28, 2014

The average price of a gallon of on-highway diesel decreased 1.1 cents to $3.858 per gallon for the week ending Monday, July 28, according to the U.S. Energy Information Administration.

Diesel price averages went down in all 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 2.1 cents per gallon. Prices went down one-tenth of a cent in the Rocky Mountain region, the smallest decrease in the nation.

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

  • U.S. – $3.858, down 1.1 cents
  • East Coast – $3.910, down 1.8 cents
  • New England – $4.044, down eight-tenths of a cent
  • Central Atlantic – $3.993, down 2.1 cents
  • Lower Atlantic – $3.817, down 1.9 cents
  • Midwest – $3.801, down nine-tenths of a cent
  • Gulf Coast – $3.767, down six-tenths of a cent
  • Rocky Mountain – $3.888, down one-tenth of a cent
  • West Coast – $4.017, down nine-tenths of a cent
  • West Coast less California – $3.928, down 1.4 cents
  • California – $4.090, 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 $3.790 on Monday morning, a 1.7 cent decrease from last week.

TruckMiles.com listed the daily average price for Monday at $3.856, with truckers in Connecticut paying an average of $4.376 per gallon, the highest in the nation. Truckers in Missouri are paying a national low of $3.602 per gallon, according to the site. Truckers in eight 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 September delivery was trading at $101.69 on Monday afternoon, a 40-cent decrease from its last trading price. The price of Brent crude oil for September settlement was listed at $107.68, a 59-cent increase from last Monday and a 71-cent decrease from its last trading price.

According to Bloomberg, conflicts in Iraq and Libya have not affected oil prices as violence has stayed away from key oil-producing regions. AAA has indexed gasoline prices at $3.523 for Sunday, the cheapest they have been since March, according to AAA.

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