Average fuel prices slightly down for third straight month

By Land Line staff | 8/17/2015

The average price of a gallon of on-highway diesel went down two-tenths of a cent from last week to $2.615 per gallon for the week ending Monday, August 17. This marks the 12th consecutive weekly decrease after six weeks of increases. All regions remain below $3.

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 New England region, where prices at the pump went down by 4.4 cents per gallon. Prices went up by 2.4 cents in the Midwest region, the only increase in the nation.

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

  • U.S. – $2.615, down two-tenths of a cent
  • East Coast – $2.696, down 1.7 cents
  • New England – $2.803, down 4.4 cents
  • Central Atlantic – $2.816, down 1.6 cents
  • Lower Atlantic – $2.583, down 1.2 cents
  • Midwest – $2.539, up 2.4 cents
  • Gulf Coast – $2.478, down nine-tenths of a cent
  • Rocky Mountain – $2.627, down 1.3 cents
  • West Coast – $2.831, down 1.5 cents
  • West Coast less California – $2.690, down 1.6 cents
  • California – $2.945, down 1.5 cents

According to ProMiles, the average retail price at truck stops was $2.537 on Monday morning, a seven-tenths of a cent increase 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 $2.611, with truckers in Connecticut paying an average of $3.163 per gallon, the highest in the nation. Truckers in Missouri are paying a national low of $2.394 per gallon, according to the site. For the 37th consecutive week, no states in the Lower 48 states are listed in excess of $4 per gallon at the pump. There are 45 states in the contiguous U.S. with prices below $3, one fewer than last 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 $42.36 on Monday at noon CDT, a $2.60 decrease from last Monday and a 14-cent decrease from its last trading price. The price of Brent crude oil for October settlement was listed at $48.89, a $1.52 decrease from last Monday and an 11-cent decrease from its last trading price.

According to AAA, fuel prices in the Midwest spiked upwards due to BP’s largest crude distillation unit in Indiana being shut down for unscheduled repair work. Gas prices in Indiana, Illinois and Michigan went up over 50 cents since last Monday, based on AAA numbers. AAA has indexed diesel prices at $2.655 for Monday, $1.164 cheaper than this time last year and 15.3 cents less than a month ago.

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