Average weekly prices for diesel are down despite weekend increases

By Land Line staff | 8/31/2015

Despite diesel prices going up over the weekend, the average price of a gallon of on-highway diesel declined 4.7 cents from last week to $2.514 per gallon for the week ending Monday, August 31. This marks the 14th consecutive weekly decrease after six weeks of increases.

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 New England region, where prices at the pump went down by 6.6 cents per gallon. Prices went down by 3 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. – $2.514, down 4.7 cents
  • East Coast – $2.590, down 5.7 cents
  • New England – $2.673, down 6.6 cents
  • Central Atlantic – $2.714, down 6.3 cents
  • Lower Atlantic – $2.478, down 5.1 cents
  • Midwest – $2.443, down 4.4 cents
  • Gulf Coast – $2.376, down 3.8 cents
  • Rocky Mountain – $2.562, down 3 cents
  • West Coast – $2.723, down 4.4 cents
  • West Coast less California – $2.564, down 4.6 cents
  • California – $2.851, down 4.3 cents

According to ProMiles, the average retail price at truck stops was $2.441 on Monday morning, a 4.4-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 $2.522, with truckers in Connecticut paying an average of $3.086 per gallon, the highest in the nation. Truckers in Oklahoma are paying a national low of $2.274 per gallon, according to the site. For the 39th 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, 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 October delivery was trading at $47.71 on Monday at noon CDT, a $9.47 increase from last Monday and a $2.49 increase from its last trading price. The price of Brent crude oil for October settlement was listed at $52.56, a $9.87 increase from last Monday and a $2.63 increase from its last trading price.

According to AAA, travelers can expect to pay the lowest gas prices during the Labor Day weekend since 2004. AAA has indexed diesel prices at $2.566 for Monday, $1.235 cheaper than this time last year and 17.2 cents less than a month ago.

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