Diesel for all regions below $3 for first time in five years

By Land Line staff | 8/10/2015

The average price of a gallon of on-highway diesel went down 5.1 cents from last week to $2.617 per gallon for the week ending Monday, August 10. This marks the 11th consecutive weekly decrease after six weeks of increases. For the first since Feb. 15, 2010, all regions are averaging below $3.

Diesel price averages went down in all 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 6.4 cents per gallon. Prices went down by 4.5 cents 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. – $2.617, down 5.1 cents
  • East Coast – $2.713, down 5.6 cents
  • New England – $2.847, down 4.8 cents
  • Central Atlantic – $2.832, down 5.3 cents
  • Lower Atlantic – $2.595, down 5.9 cents
  • Midwest – $2.515, down 4.6 cents
  • Gulf Coast – $2.487, down 4.9 cents
  • Rocky Mountain – $2.640, down 4.5 cents
  • West Coast – $2.846, down 6 cents
  • West Coast less California – $2.706, down 5.5 cents
  • California – $2.960, down 6.4 cents

According to ProMiles, the average retail price at truck stops was $2.530 on Monday morning, a 5.8-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 $2.601, with truckers in Connecticut paying an average of $3.123 per gallon, the highest in the nation. Truckers in Indiana are paying a national low of $2.295 per gallon, according to the site. For the 36th consecutive week, no states in the Lower 48 states are listed in excess of $4 per gallon at the pump. There are 46 states in the contiguous U.S. with prices below $3, with Washington and Connecticut being the two remaining states above $3 for the second consecutive week.

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 $44.80 on Monday at noon CDT, a 37-cent decrease from last Monday and a 93-cent increase from its last trading price. The price of Brent crude oil for September settlement was listed at $50.17, a 65-cent increase from last Monday and a $1.56 increase from its last trading price.

According to Reuters, WTI slightly rebounded due to a refinery outage. A Washington Times report suggests that oil prices will remain “mostly unchanged” for the remainder of the year. AAA has indexed diesel prices at $2.680 for Monday, $1.146 cheaper than this time last year and 14.8 cents less than a month ago.

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