Diesel prices maintain low for the year

By Land Line staff | 9/2/2014

The average price of a gallon of on-highway diesel decreased seven-tenths of a cent to $3.814 per gallon for the week ending Monday, Sept. 1. This marks the seventh consecutive week of diesel prices hitting the low for the year.

Diesel price averages went down in eight of 10 regions in the U.S., according to the Energy Information Administration. The largest average decrease was in the Lower Atlantic region, where prices at the pump went down by 1.5 cents per gallon. Prices went up 5.2 cents in the West Coast less California region, the highest increase in the nation.

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

  • U.S. – $3.814, down seven-tenths of a cent
  • East Coast – $3.842, down 1.3 cents
  • New England – $3.944, down 1.1 cents
  • Central Atlantic – $3.925, down 1 cents
  • Lower Atlantic – $3.756, down 1.5 cents
  • Midwest – $3.752, down 1.1 cents
  • Gulf Coast – $3.720, down 1.2 cents
  • Rocky Mountain – $3.868, down seven-tenths of a cent
  • West Coast – $4.030, up 2 cents
  • West Coast less California – $3.973, up 5.2 cents
  • California – $4.079, down five-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 $3.748 on Monday morning, a six-tenths of a cent decrease from last week.

TruckMiles.com listed the daily average price for Tuesday at $3.817, with truckers in Connecticut paying an average of $4.271 per gallon, the highest in the nation. Truckers in Missouri are paying a national low of $3.567 per gallon, according to the site. Truckers in six 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 October delivery was trading at $94.71 on Tuesday afternoon, a $1.51 increase from last Monday and a $1.25 decrease from its last trading price. The price of Brent crude oil for September settlement was listed at $101.76, a 40 cent decrease from last Monday and a $1.03 decrease from its last trading price.

According to Bloomberg, WTI prices lowered for the first time in five days in response to the end of the peak driving season driving down demand. AAA has indexed diesel prices at $3.799 for Monday, 13.5 cents cheaper than this time last year and 4.1 cents lower than a month ago.

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