Average diesel prices continue decline

By Land Line staff | 6/15/2015

The average price of a gallon of on-highway diesel went down 1.4 cents from last week to $2.870 per gallon for the week ending Monday, June 15. This marks the third consecutive weekly decrease after six weeks of increases.

Diesel price averages went down in 9 of 10 regions in the U.S., according to the Energy Information Administration. The largest average decrease was in the California region, where prices at the pump went down by 3.5 cents per gallon. Prices were unchanged in the West Coast less California region, the only region that did not experience lower prices in the nation.

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

  • U.S. – $2.870, down 1.4 cents
  • East Coast – $2.968, down 1.2 cents
  • New England – $3.073, down three-tenths of a cent
  • Central Atlantic – $3.117, down five-tenths of a cent
  • Lower Atlantic – $2.834, down 1.9 cents
  • Midwest – $2.754, down 2.0 cents
  • Gulf Coast – $2.777, down six-tenths of a cent
  • Rocky Mountain – $2.808, down 1.7 cent
  • West Coast – $3.101, down 2.0 cents
  • West Coast less California – $3.001, unchanged
  • California – $3.182, down 3.5 cents

According to ProMiles, the average retail price at truck stops was $2.797 on Monday morning, a 1.9-cent decrease from last week.

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.

TruckMiles.com listed the daily average price for Monday at $2.872, with truckers in Connecticut paying an average of $3.591 per gallon, the highest in the nation. Truckers in Missouri are paying a national low of $2.574 per gallon, according to the site. For the 28th consecutive week, no states in the Lower 48 states are listed in excess of $4 per gallon at the pump. There are 38 states with prices below $3, one 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 July delivery was trading at $59.45 on Monday at noon CDT, a $1.31 increase from last Monday and a 28-cent decrease from its last trading price. The price of Brent crude oil for July settlement was listed at $62.29, a 40-cent decrease from last Monday and a $1.58 decrease from its last trading price.

According to Bloomberg, oil prices fell for three straight days after Saudi Arabia, Iraq and the United Arab Emirates pumped out record amounts of crude. The three Middle East countries are the largest oil producers within the Organization of Petroleum Exporting Countries. AAA has indexed diesel prices at $2.868 for Monday, $1.025 cheaper than this time last year and three-tenths of a cent higher than a month ago.

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