Average weekly diesel prices up first time since May

By Land Line staff | 9/8/2015

After more than three months of declining prices, the average price of a gallon of on-highway diesel increased 2 cents from last week to $2.534 per gallon for the week ending Monday, Sept. 7. This marks the first increase after 14 weeks of decreases that started after May 26.

Diesel price averages went up in nine of 10 regions in the U.S., according to the Energy Information Administration. The largest average increase was in the Midwest region, where prices at the pump went up by 4 cents per gallon. Prices went down by a penny in the New England region, the only decrease in the nation.

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

  • U.S. – $2.534, up 2 cents
  • East Coast – $2.594, up four-tenths of a cent
  • New England – $2.663, down 1 cent
  • Central Atlantic – $2.716, up two-tenths of a cent
  • Lower Atlantic – $2.489, up 1.1 cents
  • Midwest – $2.483, up 4 cents
  • Gulf Coast – $2.385, up nine-tenths of a cent
  • Rocky Mountain – $2.567, up five-tenths of a cent
  • West Coast – $2.746, up 2.3 cents
  • West Coast less California – $2.590, up 2.6 cents
  • California – $2.872, up 2.1 cents

According to ProMiles, the average retail price at truck stops was $2.477 on Monday morning, a 3.6-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 Tuesday at $2.552, with truckers in Connecticut paying an average of $3.102 per gallon, the highest in the nation. Truckers in South Carolina are paying a national low of $2.308 per gallon, according to the site. For the 40th 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, unchanged from the previous 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 $45.30 on Tuesday at noon CDT, a $3.90 decrease from last Monday and a 75-cent decrease from its last trading price. The price of Brent crude oil for October settlement was listed at $48.92, a $5.23 decrease from last Monday and a 69-cent decrease from its last trading price.

According to Bloomberg, oil stocks surged on Tuesday due to an improving China stock market boosting investor optimism. AAA has indexed diesel prices at $2.553 for Tuesday, $1.243 cheaper than this time last year and 13.5 cents less than a month ago.

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