Average diesel prices are back down, 1.7 cents cheaper nationwide

By Land Line staff | 9/14/2015

After last week’s first increase in more than three months, diesel prices are back down. The average price of a gallon of on-highway diesel had a decrease of 1.7 cents from last week to $2.517 per gallon for the week ending Monday, Sept. 14.

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 Gulf Coast region, where prices at the pump fell by 2.3 cents per gallon. Prices went down by nine-tenths of a cent in the California region, the smallest decrease in the nation.

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

  • U.S. – $2.517, down 1.7 cents
  • East Coast – $2.575, down 1.9 cents
  • New England – $2.653, down 1 cent
  • Central Atlantic – $2.694, down 2.2 cents
  • Lower Atlantic – $2.468, down 2.1 cents
  • Midwest – $2.471, down 1.2 cents
  • Gulf Coast – $2.362, down 2.3 cents
  • Rocky Mountain – $2.554, down 1.3 cents
  • West Coast – $2.733, down 1.3 cents
  • West Coast less California – $2.571, down 1.9 cents
  • California – $2.863, down nine-tenths of a cent

According to ProMiles, the average retail price at truck stops was $2.450 on Monday morning, a 2.7-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 $2.528, with truckers in Connecticut paying an average of $3.073 per gallon, the highest in the nation. Truckers in South Carolina are paying a national low of $2.248 per gallon, according to the site. For the 41st 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 $43.91 on Monday at noon CDT, a $2.03 decrease from last Tuesday and a 72-cent decrease from its last trading price. The price of Brent crude oil for October settlement was listed at $46.51, a $3.01 decrease from last Tuesday and a $1.63 decrease from its last trading price.

According to Bloomberg, oil stocks dropped for the fifth time in six days on Monday in response to China’s slowdown. Analysts are predicting that the global surplus will continue through most of next year. AAA has indexed diesel prices at $2.535 for Monday, $1.249 cheaper than this time last year and 12.6 cents less than a month ago.

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