Diesel prices level off after nine weeks of decreases

By Land Line staff | 9/8/2014

The average price of a gallon of on-highway diesel remains unchanged from last week at $3.814 per gallon for the week ending Monday, Sept. 8. Although not an increase, this marks the end of nine consecutive weeks of price drops, which led to record-lows for the year.

Diesel price averages went up in six of 10 regions in the U.S., according to the Energy Information Administration. The largest average increase was in the West Coast less California region, where prices at the pump went up by six-tenths of a cent per gallon. Prices went down 1.1 cents in the New England region, the highest decrease in the nation.

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

  • U.S. – $3.814, no change
  • East Coast – $3.844, up two-tenths of a cent
  • New England – $3.933, down 1.1 cents
  • Central Atlantic – $3.928, up three-tenths of a cent
  • Lower Atlantic – $3.760, up four-tenths of a cent
  • Midwest – $3.71 down one-tenth of a cent
  • Gulf Coast – $3.715, down five-tenths of a cent
  • Rocky Mountain – $3.869, up one-tenth of a cent
  • West Coast – $4.034, up four-tenths of a cent
  • West Coast less California – $3.976, up six-tenths of a cent
  • California – $4.079, no change

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 $3.749 on Monday morning, a one-tenth of a cent increase from last week.

TruckMiles.com listed the daily average price for Monday at $3.818, with truckers in Connecticut paying an average of $4.259 per gallon, the highest in the nation. Truckers in Missouri are paying a national low of $3.557 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 $92.34 on Monday afternoon, a $2.37 decrease from last Monday and a 95-cent decrease from its last trading price. The price of Brent crude oil for October settlement was listed at $100.02, a $1.74 decrease from last Monday and an 80-cent decrease from its last trading price and the lowest price for the year.

According to Bloomberg, Brent traded at $99.72 earlier on Monday, the first time since June 2013 it has traded below $100. WTI hit its second lowest trading price for the year, behind only a $91.62 price tag back on Jan. 13. AAA has indexed diesel prices at $3.796 for Monday, 14.8 cents cheaper than this time last year and 3.3 cents lower than a month ago.

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